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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 $ bond portfolio that yields percent annu
ally. Approximately onetwelfth 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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