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A 15-year maturity bond with par value of $1,000 makes annual coupon payments at a coupon rate of 9%. Find the bond equivalent and effective

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A 15-year maturity bond with par value of $1,000 makes annual coupon payments at a coupon rate of 9%. Find the bond equivalent and effective annual yield to maturity of the bond for the following bond prices. (Round your answers to 2 decimal places.) Bond Prices Bond Equivalent Annual Yield to Maturity % Effective Annual Yield to Maturity a. $ 940 % b. $ % % 1,000 1,040 C. $ % %

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