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I NEED PART (B) MATURITY LEVEL... -Someone didn't answer the complete answer please make sure everything is answered. On July 1, 2013 an investment manager

I NEED PART (B) MATURITY LEVEL...

-Someone didn't answer the complete answer please make sure everything is answered.

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On July 1, 2013 an investment manager purchased five-hundred $1,000 par value bonds with an 8.75% coupon rate for $467,000. The bonds mature on July 15, 2021. a. According to this information, would you expect that the rates being offered by similar investments on the open market carry a rate that is higher, or lower than the coupon rate? Explain. b. Find the current yield AND the yield to maturity. Show your work

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