A $10,000 mortgage bond with a bond interest rate of 8% per year, payable quarterly, was purchased
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A $10,000 mortgage bond with a bond interest rate of 8% per year, payable quarterly, was purchased for $9200. The bond was kept until it was due, a total of 7 years. What rate of return was made by the purchaser per 3 months and per year (nominal)?
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