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A bond has a par value of $1,000, a current yield of 7.5 percent, and semiannual interest payments. The bond quote is 98.6. What is

A bond has a par value of $1,000, a current yield of 7.5 percent, and semiannual interest payments. The bond quote is 98.6. What is the amount of each coupon payment? A. $32.07 B. $36.98 C. $37.50 D. $72.31 E. $75.00

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what is I/y equal to?

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