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Question 18 Suppose you pay $674.07 for a bond that matures in 1-year with a...

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Question 18 Suppose you pay $674.07 for a bond that matures in 1-year with a coupon rate of 4%. If the principal of the bond is $700, what must be the prevailing interest rate? (State your answer in % but do not include the % sign. Round to nearest 0.1.) 4 pts

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