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A mortgage bond issued by Automation Engineering is for sale for $ 7 , 7 0 0 . The bond has a face value of

A mortgage bond issued by Automation Engineering is for sale for $7,700. The bond has a face value of
$10,000 with a coupon rate of 6% per year, payable semi-annually. What rate of return will be realized if
the purchaser holds the bond to maturity 6 years from now?
The rate of return will be
% per year.
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