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Assume that Peter purchased a 30-year, 9.56 percent coupon (annual payments) bond at par ($1,000)....

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Finance

Assume that Peter purchased a 30-year, 9.56 percent coupon (annual payments) bond at par ($1,000). He sold the bond after 7 years for $824.29. He reinvested the coupon payments at the 11.86 percent compounded annually. Calculate the bond's total yield.

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