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Spot rates associated with a four-year, par-value, $3.000. 6% bond with annual coupons are r = 4.5%, r = r3 = 5.5%, and ra =
Spot rates associated with a four-year, par-value, $3.000. 6% bond with annual coupons are r = 4.5%, r = r3 = 5.5%, and ra = 6%. Calculate the value of the bond and its yield if it is sold at a price equal to its value
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