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  3. a 6 year $12,500 bond paying a coupon rate of 3.50

A 6 year $12,500 bond paying a coupon rate of 3.50% compounded semi-annually was purchased...

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Finance

A 6 year $12,500 bond paying a coupon rate of 3.50% compounded semi-annually was purchased at 97.40%. Calculate the yield at the time of purchase of the bond.
%
Round to two decimal places
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