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Jose bought a portfolio of five bonds for $50,000. Each of the bonds is a par valued 10,000 6% bond with annual coupons. These five

Jose bought a portfolio of five bonds for $50,000. Each of the bonds is a par valued 10,000 6% bond with annual coupons. These five bonds mature at time t=16 through t=20. Find Joses APY. (Please no excel formulas and financial calculator)

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