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When a problem comes along, you must skip it. When something's going wrong, you must skip it. Skip it! SKIP IT GOOD! (...Unless you have extra time at the end, in which case you should go back to it and also consider using Process of Elimination.)
  • 1.

    You buy a bond that pays an 8% coupon when prevailing interest rates are 8.5%. You most likely paid:

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    $65.65

  • 4.

    A bond has a 4% coupon, matures on January 1, 2020 and is callable at 102 on January 1, 2015. What is the convention for calculating yield?


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