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An n - year bond with an annual coupon rate of r % has the following characteristics: The face amount is 9 8 0 .

An n-year bond with an annual coupon rate of r%
has the following characteristics:
The face amount is 980.
Coupons of 49 are paid semiannually.
The annual nominal yield rate convertible semiannually is (r+1.8)%
The purchase price is 915.70.
The redemption value is 1,000.
Calculate n.
possible answer choices: 2,3,4,5

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