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Two years ago, Bob purchased a 20-year $1.000 par value zero-coupon bond for $311.80. If today (with 18 years to maturity) the bond is priced

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Two years ago, Bob purchased a 20-year $1.000 par value zero-coupon bond for $311.80. If today (with 18 years to maturity) the bond is priced to yield 5.00%, what is his annualized return if he sells the bond? Hint: Calculate the price of the bond today, and use as FV to calculate the return over 2 years

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