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Business, 01.08.2020 21:01 sheldonwaid4278

Toby purchased a 20-year par value bond with semiannual coupons at a nominal annual rate of 8% convertible semiannually at a price of 1,722.25. The bond can be called at par value 1,100 on any coupon date starting at the end of year 15. What is the minimum yield that Toby could receive, expressed as a nominal annual rate of interest convertible semiannually?

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Toby purchased a 20-year par value bond with semiannual coupons at a nominal annual rate of 8% conve...

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