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A bond that matures 25 years from today is currently trading at $900. The bond has semi-annual coupon payments at a rate of 3%. If

A bond that matures 25 years from today is currently trading at $900. The bond has semi-annual coupon payments at a rate of 3%. If you buy the bond today and hold it until maturity, what interest rate will you earn?

a)2.14

b)3.50

c)3.61

d)4.98

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