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Use the method of averages to find the approximate yield rate for the bond shown in the table below. The bond is to be redeemed

Use the method of averages to find the approximate yield rate for the bond shown in the table below. The bond is to be redeemed at par.

Face Value: $5000

Bond Rate Payable Semi-annually: 5%

Time Before Maturity: 9 years

Market Quotation 102.25

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