(Solution) - Vijay purchased a Province of Nova Scotia bond for 1050 -(2025 Original AI-Free Solution)

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Vijay purchased a Province of Nova Scotia bond for $1050. The bond will pay $35 interest to Vijay at the end of every six months until it matures in seven years. On the maturity date the bond will pay back its $1000 face value (as well as the interest payment due on that date.) What semiannually compounded rate of return will Vijay earn during the seven years?