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PLEASE SHOW FULL WORKING All rates are quoted using continuous compounding. A bond with maturity in two years, has face value 500 and a coupon

PLEASE SHOW FULL WORKING

All rates are quoted using continuous compounding. A bond with maturity in two years, has face value 500 and a coupon rate of 7%, paid semi-annually.

The bond sells for 480 today

To one decimal place, the yield-to-maturity of the bond is_____________

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