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Megan purchases a 3-year bond with a par value of $100, 3% annual coupons, and redeemable at $110. The annual effective yield rate is 6%.

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Megan purchases a 3-year bond with a par value of $100, 3% annual coupons, and redeemable at $110. The annual effective yield rate is 6%. Find the amount for accumulation of discount or the write up in the 1st year. Possible Answers A 2.52 B 3.02 C 3.20 D 3.29 E 3.40

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