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A 10-year maturity bond with par value of $1,000 makes semiannual coupon payments at a coupon rate of 7%. Find the bond equivalent and effective annual yield to maturity of the bond for the following bond prices. (Round your answers to 2 decimal places.)
Bond Prices Bond Equivalent Annual Yield to Maturity Effective Annual Yield to Maturity
a. $ 940 _____ % ________ %
b. $ 1,000 _____ % ________ %
c. $ 1,040 % _____ % ________ %

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Answer

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Explanation  

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