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One year before maturity, the price of a bond with a principal amount of $2,000 and a coupon rate of 3% paid annually rose to

One year before maturity, the price of a bond with a principal amount of $2,000 and a coupon rate of 3% paid annually rose to $2,040. The new one-year interest rate must be _______.

A. 1.0%

B. 5.0%

C. 3%

D. 2.0%

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