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The bonds issued by United Corp. bear a coupon of 5 percent, payable semiannually. The bond matures in 17 years and has a $1,000 face

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The bonds issued by United Corp. bear a coupon of 5 percent, payable semiannually. The bond matures in 17 years and has a $1,000 face value. Currently, the bond sells at $952. The yield to maturity (YTM) is_ 96. A stock is expected to return 10% in a normal economy, 13% if the economy booms, and lose 5% if the economy moves into a recessionary period. Economists predict a 70 % chance of a normal economy, a 10% chance of a boom, and a 20% chance of a recession. The expected return on the stock is %6. You want to save up enough money to purchase a new computer, which costs $4,500. You currently have $4,000 in your bank account. If you can earn 8% per year by investing this money, how long will it take before you have enough money in your bank account to buy the new computer? (keep at least two decimal places) years

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