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please post all steps and formulas, no excel or actuarial calculator 7. Jose bought a portfolio of five bonds for $50,000. Each of the bonds

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please post all steps and formulas, no excel or actuarial calculator

7. Jose bought a portfolio of five bonds for $50,000. Each of the bonds is a par valued 10,000 6% bond with annual coupons. These five bonds mature at time t-16 through t-20. Find Jose's APY

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