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Explain how he got the answer please and thank you Consider a 485 coupon bond with price P=100,375, M=100,000, and two years until maturity. Assume

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Explain how he got the answer please and thank you
Consider a 485 coupon bond with price P=100,375, M=100,000, and two years until maturity. Assume you hold the bond for 18 months and then sell it. - Assume the reinvestment rate, r, as well as the yield to maturity at the times of sale, y, equal the initial yield to maturity y=2.2135%. (All three rates are semi-annual) - What is the realized rate of return (semi-annual)

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