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You are given a 10 year bond with semiannual coupons, where: The purchase price is 650. The par value is 1000. The redemption value is

You are given a 10 year bond with semiannual coupons, where:

The purchase price is 650.

The par value is 1000.

The redemption value is 1050.

The coupon rate is 12%.

Approximate the nominal yield rate convertible semiannually.

Please show formulas.

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