Question: A $1000 face value 20 year bond returns $25 semiannually. If the bond was purchased when issued for $1000, and then sold after 4 years

A $1000 face value 20 year bond returns $25 semiannually. If the bond was purchased when issued for $1000, and then sold after 4 years for $975, what was the IRR the purchaser received?

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