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Vernon purchases a 1 9 - year, zero - coupon bond that matures for 1 6 5 0 . The bond is priced to yield
Vernon purchases a year, zerocoupon bond that matures for The bond is priced to yield annual effective. Vernon sells the bond to Wendy N years after she purchased it The price paid by Wendy results in an annual effective yield of for Vernon and an annual effective yield of for Wendy. Find N
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