Question: please no excel use formuls only 2. Kate bought a bond at face value of $1000 at inception in the market. The life of the

please no excel use formuls only

2. Kate bought a bond at face value of $1000 at inception in the market. The life of the bond is 20 years, and the coupons are paid yearly with bond rate of 5%. She holds it for 8 years and sells it at a price that yields is 4% on her investment. What would the yield for the second owner be if the second owner holds it until maturity

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