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A fixed-interest security pays coupons of 6% per annum, half-yearly in arrear and will be redeemed at par in exactly ten years. Calculate the price
A fixed-interest security pays coupons of 6% per annum, half-yearly in arrear and will be redeemed at par in exactly ten years.
Calculate the price per $100 nominal to provide an annual effective rate of return of 4%.
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