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An FI has purchased a 2-year, $1,000 par value zero-coupon bond for $972.577. What is the yield on the bond at the time of purchase?

An FI has purchased a 2-year, $1,000 par value zero-coupon bond for $972.577. What is the yield on the bond at the time of purchase?

a.0.90%

b.1.90%

c.1.33%

d.1.61%

e.1.40%

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