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undefined 3. You have purchased a bond that has no interest coupons attached (you pay at one price and the bond is redeemed a face

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3. You have purchased a bond that has no interest coupons attached (you pay at one price and the bond is redeemed a face value in 3 years). You pay $84 for a bond that will be redeemed for $100 in exactly 3 years. What is the effective compound interest rate

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