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Smith purchases a 2 0 - year , 8 % , 1 0 0 0 bond with semiannual coupons. The purchase price will give a
Smith purchases a year bond with semiannual coupons. The purchase price will give a nominal annual yield to maturity, of After the th coupon, Smith sells the bond. At what price did he sell the bond if his actual nominal annual yield is Hint: Recall the definition of yield rate given in Chapter
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