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The six-month and one-year rates are 4% and 5% per annum with semiannual compounding. Which of the following is closest to the one-year par yield

The six-month and one-year rates are 4% and 5% per annum with semiannual compounding. Which of the following is closest to the one-year par yield expressed with semiannual compounding? a. 5.05% b. 4.98% c. 4.90% d. 5.50%

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