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P Pls give some explanation on how to get the answer. Thank you 5. A bond pays coupons in perpetuity on 1 June and 1

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5. A bond pays coupons in perpetuity on 1 June and 1 December each year. The annual coupon rate is 3.5% per annum. An investor purchases a quantity of this bond on 20 August 2009. Calculate the price per 100 nominal to provide the investor with an effective rate of return per annum of 10%

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