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down in the 2nd coupon. 4) A $1,000 par value n-year bond with $100 annual coupons is purchased for $1,110. The bond yields the effective

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down" in the 2nd coupon. 4) A $1,000 par value n-year bond with $100 annual coupons is purchased for $1,110. The bond yields the effective annual rate of interest i to the purchaser. You are given Vn=.45. In which of the following ranges is i? a) 8.25%

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