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A 1 5 - year bond has annual coupons. The annual coupon starts at $ 1 5 , and decreases by $ 1 each year.
A year bond has annual coupons. The annual coupon starts at $ and decreases by $ each year. The last coupon at the end of years is $ and the redemption value at maturity is $ If the bond is bought to yield effective per annum, compute the portion of the ninth coupon used to amortize the book value.
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