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  • 23-05-2023
  • Business
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Mike takes a 5-year loan that has 60 end of the month payments of B under the nominal annual interest rate of 12% compounded monthly. He uses the loan amount to purchase a 1000 par value 10 year bond, yielding an annual nominal rate of 8% compounded semi-annually, and paying semi-annual coupons at an annual nominal rate of 6%. Find B.

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