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A 7 year $15,000 bond paying a coupon rate of 4.75% compounded semi-annually was purchased at 97.20%. Calculate the yield at the time of purchase of the bond. % Round to two decimal places.

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A 7 year $15,000 bond paying a coupon rate of 4.75% compounded semi-annually was purchased at 97.20%. Calculate the yield at the time of purchase of the bond. % Round to two decimal places

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