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Today is 15 May 2020 Sue just purchased a Treasury bond with a coupon rate of j 2= 3.2% p.a. and a face value of

Today is 15 May 2020 Sue just purchased a Treasury bond with a coupon rate ofj2= 3.2% p.a. and a face value of $100 that matures at par. The purchase price was $99.079. The maturity date of this bond is 15 May 2022.

Use the approximate bond yield formula to estimate the yield rate. Give your answer inj2form

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