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(c) If a 221-year bond is issued at par (i.e., the price is the same as the face value), and the coupon rate is 6%

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(c) If a 221-year bond is issued at par (i.e., the price is the same as the face value), and the coupon rate is 6% convertible semiannually, find the spot rate of a 221-year zero coupon bond (annual nominal rate convertible semiannually)

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