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Jordan buys a$1000bond with4.6%semiannual coupons maturing in23years and redeemable at$1040. Find Jordan's yield rate (expressed as a nominal rate compounded semiannually) if the purchase price

Jordan buys a$1000bond with4.6%semiannual coupons maturing in23years and redeemable at$1040. Find Jordan's yield rate (expressed as a nominal rate compounded semiannually) if the purchase price is$965.25.

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Jordan buys a $1000 bond with 4.6% semiannual coupons maturing in 23 years and redeemable at $1040. Find Jordan's yield rate (expressed as a nominal rate compounded semiannually) if the purchase price is $965.25. Possible Answers A 4.85 B 4.95 C 5.01 D 5.15 E 2.48

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