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A 7 year, $100,000 Bond was issued 2 years ago. Semi annual coupons are being received at 6.43% pa and the market is now returning

A 7 year, $100,000 Bond was issued 2 years ago.

Semi annual coupons are being received at 6.43% pa and the market is now returning 5.48%.

Correctly identify the figure (as a percentage) that would be used in the Bond Pricing Formula that represents "i".

Round to TWO decimal places.

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