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Marvin Wrong purchases a zero coupon bond with 15 years to maturity at a price of $481.50. The bond has a par value of $1,000

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Marvin Wrong purchases a zero coupon bond with 15 years to maturity at a price of $481.50. The bond has a par value of $1,000 What is the implicit interest for the first year? Assume semiannual compounding. Multiple Choice $22.90 $21.04 $24.04 O $23.24

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