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A bank issued a three-month, $5 million NCD with a 0.35 percent yield. Immediately after the issue, the secondary market price of the NCD fell

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A bank issued a three-month, $5 million NCD with a 0.35 percent yield. Immediately after the issue, the secondary market price of the NCD fell to $4,994,500. Compute the bond equivalent yield of this NCD using the new price. 0.350% 0.796% 0.968% 0.676% 0.355%

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