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David purchases a 1 0 0 0 par value 1 0 - year bond with 7 . 5 % semiannual coupons for He is able

David purchases a 1000 par value 10-year bond with 7.5% semiannual coupons for
He is able to reinvest his coupon payments at a nominal rate of 5.6% convertible
semiannually. Calculate his annual yield rate over the 15-year period.
write answer in 5 decimal places
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