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Max is considering the purchase of a $2500 bond from Bo. There are 5 years remaining until the bond matures. Coupon payments are made on

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Max is considering the purchase of a $2500 bond from Bo. There are 5 years remaining until the bond matures. Coupon payments are made on a quarterly basis. Max decides to offer Bo $2000 for the bond because he wants to earn precisely 32% yield per year compounded quarterly on the investment. What is the effective annual bond interest rate for this particular bond? Bond Equation: P = Vr(PIA, i% n) + F(P/F, i%, n

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