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Janice V. bought a 4% $1000 20-year bond for $825. She received a semiannual dividend for 8 years, then sold it immediately after the sixteenth

Janice V. bought a 4% $1000 20-year bond for $825. She received a semiannual dividend for 8 years, then sold it immediately after the sixteenth dividend for $900. What rate of return did she make per semiannual period, and per year (nominal)? Hint: How many dividend payments are made?

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