Question: (1 point) (Exercise 6.23) An n-year $1000 par value bond with 2.73% annual coupons is purchased at a price to yield an annual effective rule

(1 point) (Exercise 6.23) An n-year $1000 par value bond with

(1 point) (Exercise 6.23) An n-year $1000 par value bond with 2.73% annual coupons is purchased at a price to yield an annual effective rule of i. You are given: (i) If the annual coupon rate had been 3.73% instead of 2.73%, the price of the bond would have increased by $149. (ii) At the time of purchase, the present value of all the coupon payments is equal to the present value of the bond's redemption value of $1000. Calculate i. ANSWER =

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