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.The 1-year, 2-year, and 3-year rates are 3%, 5%, and 7%, respectively. The rates are annual and continuously compounded. Given a 3-year annual pay bond

.The 1-year, 2-year, and 3-year rates are 3%, 5%, and 7%, respectively. The rates are annual and continuously compounded. Given a 3-year annual pay bond (the bond pays a coupon annually), what coupon rate should the bond pay to sell at par?

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