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Suppose the redemption value of a 5-year bond is $105. It pays semiannual coupons of $3 each. The annual yield rate is 8% convertible semiannually.

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Suppose the redemption value of a 5-year bond is $105. It pays semiannual coupons of $3 each. The annual yield rate is 8% convertible semiannually. Calculate the interest earned on this bond for the first half year. Round the answer to the nearest tenth dollar

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