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Michael decided to buy a strip bond for his RRSP. He purchased a three year $5000 face bond for $3777. What is the annualized return

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Michael decided to buy a strip bond for his RRSP. He purchased a three year $5000 face bond for $3777. What is the annualized return on this investment? A. 9.80 percent B. 9.36 percent C. 8.15 percent D. 7.80 percent

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