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A bond traded at 111/2 means that: The market rate of interest is 11.5%. O The bonds were retired at $1.115 each. The bond pays

A bond traded at 111/2 means that: The market rate of interest is 11.5%. O The bonds were retired at $1.115 each. The bond pays 11.5% interest. O The bond traded at $1,115 per $1,000 bond The market rate of interest is 11 % above the contract

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