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Stanley Hart invested in a state government bond that promised an annual yield of 6.7 percent. The bond pays coupons twice a year. What is

Stanley Hart invested in a state government bond that promised an annual yield of 6.7 percent. The bond pays coupons twice a year. What is the effective annual yield on this investment?

a.

6.81%
b.

3.35%
c.

9.4%
d.

8.5%.
e.

6.70%

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