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  • 10-04-2024
  • Business
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The market price of a semi-annual pay bond is $993.64. It has 12.93 years to maturity and a coupon rate of 6.75%. Par value is $1,000. What is the effective annual yield?
a) 6.85%
b) 7.12%
c) 7.35%
d) 7.56%

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