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The current yield curve for default-free zero-coupon bonds is as follows: Maturity (Years) Spot rates 0.08 1 2 0.09 3 0.12 What is the yield

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The current yield curve for default-free zero-coupon bonds is as follows: Maturity (Years) Spot rates 0.08 1 2 0.09 3 0.12 What is the yield to maturity of a 3-year coupon bond with a 12% coupon rate paid annually

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