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Consider the same Coupon Bond as in the problem above with a Face Value of $1,000 that matures in fifteen years, pays 5.92% semi-annual coupons,
Consider the same Coupon Bond as in the problem above with a Face Value of $1,000 that matures in fifteen years, pays 5.92% semi-annual coupons, and is currently selling for $954.15. What is the Effective Yield on the security? For more explanation see Example 7.1 on page 205 of the textbook. (The answer is a percent, round your answer to two decimal places, e.g. 4.75)
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