Question: Use the method of average to find the approximate yield rate for the bond shown in table shown. The bond is to be redeemed at

Use the method of average to find the approximate yield rate for the bond shown in table shown. The bond is to be redeemed at par.

Face value is $3000,

Bound rate payable semi-annually is 7%,

Time Before Maturity 5 years

Market Quotation is 98.125

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