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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

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

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