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The market price of a semi - annual pay bond is $ 9 6 7 . 2 7 . It has 1 7 . 0

The market price of a semi

-

annual pay bond is $

967.27 .

It has

17.00

years to maturity and a coupon rate of

8.00 % .

Par value is $

1, 000 .

What is the effective annual yield?

4

Decimals Please.

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