An n-year 4.75% bond is selling for 95.59. An n-year 6.25% bond at the same...
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An n-year 4.75% bond is selling for 95.59. An n-year 6.25% bond at the same yield would sell for 108.82. The face and redemption amount of the bond is 100. Find the yield rate.
The answer that the textbook gives is i(2)=.0525, but I cannot seem to figure out how to get that answer. Please show all steps. Thank you!
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