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On Nov 15, 2021, you purchased a coupon bond maturing in Nov 2045. The bond makes semiannual coupon payments with a coupon rate of 3.5%.

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On Nov 15, 2021, you purchased a coupon bond maturing in Nov 2045. The bond makes semiannual coupon payments with a coupon rate of 3.5%. The yield to maturity of the bond was 4% at the time of the purchase. Calculate the flat and invoice price of the bond. Now, suppose that you know the invoice price of the above bond is 95% of the par. Work out the yield to maturity of the bond

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