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Suppose you purchase a 15-year, zero-coupon bond with a yield to maturity of 5.5%. You hold the bond for five years before selling it. If
Suppose you purchase a 15-year, zero-coupon bond with a yield to maturity of 5.5%. You hold the bond for five years before selling it. If the bonds yield to maturity is 6.5% when you sell it, what is the internal rate of return of your investment?
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