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Each of the following bonds has a $100 par value. bond compound interest % p.a 10 8 X y coupen payment years to maturity

Each of the following bonds has a $100 par value. bond compound interest % p.a 10 8 X y coupen payment years to maturity yield to maturity (% p.a) annual 10 semi annual Calculate the value of each bond Which bond, X or Y, has the higher interest rate risk and why? 10 9 9

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