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A fifteen-year bond with semi-annual coupons has a nominal annual rate of 6.5%. The bond is par-valued and has a face value of $100,000. (Each

A fifteen-year bond with semi-annual coupons has a nominal annual rate of 6.5%. The

bond is par-valued and has a face value of $100,000. (Each coupon pays $3,250.) The price of the

bond is $66,573.05.

a)

Find the yield.

b)

Write up the bond.

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