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Posted on Jul 25, 2024

There is a bond that has a quoted price of 1 1 0 . 5 4 7 and a par value of $ 2 ,

There is a bond that has a quoted price of

110.547

and a par value of $

2, 000 .

The coupon rate is

7.05

percent and the bond matures in

19

years. If the bond makes semiannual coupon payments, what is the effective annual interest rate?

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