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The spot rates for 6 , 1 2 , 1 8 , and 2 4 months are 3 % , 3 . 2 5 %

The spot rates for 6,12,18, and 24 months are 3%,3.25%,3.5%, and
3.75%, with semiannual compounding.
(a) Calculate the price of a two-year 4% bond with semiannual payments.
(b) Calculate the yield to maturity of the bond in (a)

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