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An investor purchases a $1000 10-year bond that pays half-yearly coupon interest of 6 per cent. The market rate of interest at that time

An investor purchases a $1000 10-year bond that pays half-yearly coupon interest of 6 per cent. The market rate of interest at that time is 4.5 per cent. After 5 years, the bond is sold (at this time the market rate of interest is 5.5 per cent). Calculate the yield that the investor has earned on the investment.

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