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A 15-year maturity bond with a par value of $1,000 makes semiannual coupon payments at a coupon rate of 12%. Find the bond equivalent and

A 15-year maturity bond with a par value of $1,000 makes semiannual coupon payments at a coupon rate of 12%. Find the bond equivalent and effective annual yield to maturity (YTM) of the bond for the following bond prices: $970, $1,000, and $1,070

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