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Please show explanation without using Excel. A 20 -year maturity bond with par value of $1,000 makes semiannual coupon payments at a coupon rate of

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Please show explanation without using Excel.

A 20 -year maturity bond with par value of $1,000 makes semiannual coupon payments at a coupon rate of 6%. Find the bond equivalent and effective annual yield to maturity of the bond for the following bond prices. Note: Do not round intermediate calculations. Round your answers to 2 decimal places

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