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Q5. A $1000 par value bond with a term of 10 years and a coupon of 8% convertible semiannually is offered at a price of

Q5.

A $1000 par value bond with a term of 10 years and a coupon of 8% convertible semiannually is offered at a price of $950. Find the yield rate. (Hint the signs are important here)

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