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Jamal bought a $1000 bond for $900. The coupon rate is 8%, and lifetime 20 years. He received a semiannual dividend for 8 years, then
Jamal bought a $1000 bond for $900. The coupon rate is 8%, and lifetime 20 years. He received a semiannual dividend for 8 years, then sold it immediately after the 16th dividend for $800. Did Jamal make the return of 6% per year compounded semiannually that he wanted?
Please answer clearly early and provide reasoning. I rate.
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