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What is the effective yield to maturity of a $ 1 , 0 0 0 par value strip bond that sells for $ 4 0

What is the effective yield to maturity of a $

1, 000

par value strip bond that sells for $

403

and will mature in

10

years?

(

Use a Financial calculator to arrive at the answer. Round the final answer to

2

decimal places.

)

Effective yield to maturity

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