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I know the first answer is 1.47% How is the second answer found? What is the quarterly yield on a two year bond that pays

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I know the first answer is 1.47% How is the second answer found?

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What is the quarterly yield on a two year bond that pays a total of eight quarterly coupons of 2 each on a par value of 100 (i.e. C=8%) if it is priced at 104 with two years (eight quarters) until maturity? Answer: What is the annualised yield to maturity on the bond in the previous

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