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John buys a bond that is due to mature at par in one year. It has a 100 par value and coupons at 4% convertible

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John buys a bond that is due to mature at par in one year. It has a 100 par value and coupons at 4% convertible semiannually. John pays 98.51 to obtain a yield rate i convertible semiannually, i > 0. Calculate i. Possible Answers A 4.55% B 4.80% C 5.05% D 5.30% E 5.55%

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