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An investor purchases a zero coupon bond with 18 years to maturity at a price of $375.04. The bond has a par value of $1,000.

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An investor purchases a zero coupon bond with 18 years to maturity at a price of $375.04. The bond has a par value of $1,000. What is the implicit interest for the first year? Assume semiannual compounding. Multiple Choice O $21.00 $21.53 $18.38 $20.00 $20.30

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