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07-01-2024
Mathematics

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A 5-year semiannual coupon bond with a face value of $1,000 trades at $973. The market-determined discount rate is 7%. What is the coupon rate? Answer in percent and round to two decimal places.
A) 6.52%
B) 7.03%
C) 7.50%
D) 8.21%

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