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You construct a $ 5 0 0 , 0 0 0 bond portfolio that yields 8 . 5 percent annu - ally. Approximately one -

You construct a $500,000 bond portfolio that yields 8.5 percent annu-
ally. Approximately one-twelfth of the annual income is received each
month. Using the heuristic mentioned in the chapter, how much accrued
interest will you have to pay to assemble this portfolio?

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