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A $5000,5% bond certificate redeemable at par with semi-annual coupons was purchased 10 years before maturity to yield 6% compounded semi-annually. The bond was sold

A $5000,5% bond certificate redeemable at par with semi-annual coupons was purchased 10 years before maturity to yield 6% compounded semi-annually. The bond was sold 3 years later at 104. Calculate the gain or loss on the sale of the bond

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