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There is a bond that has a quoted price of 104.121 and a par value of $2,000. The coupon rate is 6.84 percent and the

There is a bond that has a quoted price of 104.121 and a par value of $2,000. The coupon rate is 6.84 percent and the bond matures in 24 years. If the bond makes semiannual coupon payments, what is the effective annual interest rate? 3.25% 3.17% 6.50% 6,60%

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