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An investor purchases a zero coupon bond with 14 years to maturity at a price of $456.75. The bond has a par value of $1,000.

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An investor purchases a zero coupon bond with 14 years to maturity at a price of $456.75. The bond has a par value of $1,000. What is the implicit interest for the first year? Assume semiannual compounding. Multiple Choice $25.04 $23.01 $26.95 $26.29 $25.42

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