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A bond with a face value of $ 1 0 0 0 and 1 5 years remaining until maturity, pays a coupon rate of 5

A bond with a face value of $

1000

and

15

years remaining until maturity, pays a coupon rate of

5 %

compounded semiannually. What yield

(

compounded semiannually

)

to maturity is earned by an investor who purchases this bond for $

965 ?

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