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Assume a zero-coupon bond that sells for $272 will mature in 15 years at $1,300. UseAppendix Bfor an approximate answer but calculate your final answer

Assume a zero-coupon bond that sells for $272 will mature in 15 years at $1,300. UseAppendix Bfor an approximate answer but calculate your final answer using the formula and financial calculator methods.

What is the effective yield to maturity?(Assume annual compounding. Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)

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