Kevin Phan bought 10-year bonds issued by Harvey Norman 5 years ago for $936.05. The bonds make
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Question:
Kevin Phan bought 10-year bonds issued by Harvey Norman 5 years ago for $936.05. The bonds make semi-annual coupon payments at a rate of 8.4 per cent. If the current price of the bond is $1,048.77, what is the effective annual yield that Kevin would earn by selling the bonds today
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