Previous Problem Problem List Next Problem An investor purchases two bonds with the following properties: Bond 1: Has a face value $1000 and is redeemable at par. Pays coupons annually at a rate of...

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Extracted text: Previous Problem Problem List Next Problem An investor purchases two bonds with the following properties: Bond 1: Has a face value $1000 and is redeemable at par. Pays coupons annually at a rate of 7.3% annual and was purchased for $1090.28. Bond 2: Has a face value $1000 and is redeemable at par. Pays coupons annually at a rate of 6.5% annual and was purchased for $1017.33. If both bonds mature in the same number of years and the investor yields the same rate on both bonds, find the yield rate (as a percent correct to 2 decimal places). Answer: %