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An investor purchases a 20 -year bond with an 8% coupon rate (with annual payments) at par. The investor expects that in two years the

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An investor purchases a 20 -year bond with an 8% coupon rate (with annual payments) at par. The investor expects that in two years the yields on comparable bonds will fall to 6.8%. Assuming the investor sells the bond in two years, find the expected yield

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