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The yields to maturity on five zero coupon bonds are: Years to Maturity Yield 1 12.0% 2 14.0% 3 15.0% 4 15.5% 5 15.7% What

The yields to maturity on five zero coupon bonds are:

Years to Maturity Yield
1 12.0%
2 14.0%
3 15.0%
4 15.5%
5 15.7%

What rate of interest would you receive if you bought a bond at the beginning of the second year and sold it at the beginning of the fourth year? show calculation (not excel)

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