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Question 2 5 pts Suppose you are considering investing in a $1,000 par value, 6 year, 7% annual coupon rate bond, but pays monthly installment.

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Question 2 5 pts Suppose you are considering investing in a $1,000 par value, 6 year, 7% annual coupon rate bond, but pays monthly installment. If the current market price of the bond is $949, what is the current yield of the bond? (Round your answer to two decimal point)

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