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Consider a bond paying a coupon rate of 9% per year semiannually when the market interest rate is only 3.6% per half-year. The bond has

Consider a bond paying a coupon rate of 9% per year semiannually when the market interest rate is only 3.6% per half-year. The bond has six years until maturity.

a. Find the bonds price today and six months from now after the next coupon is paid.

b. What is the total rate of return on the bond? (% per six months)

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