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A 20-year maturity bond with par value of $1,000 makes semiannual coupon payments at a coupon rate of 7%. Find the bond equivalent and effective

A 20-year maturity bond with par value of $1,000 makes semiannual coupon payments at a coupon rate of 7%. Find the bond equivalent and effective annual yield to maturity of the bond for the following bond prices. Bond prices: $940 $1000 $1040.

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