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A newly issued bond has a coupon rate of 5 percent and semiannual interest payments. The bonds are currently priced at par. The effective annual
A newly issued bond has a coupon rate of 5 percent and semiannual interest payments. The bonds are currently priced at par. The effective annual rate provided by these bonds must be: Multiple Choice 2.5 percent. greater than 2.5 percent but less than 5 percent. 5 percent. greater than 5 percent
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