The coupon rate of Bond X is 8% and the bond pays interest annually and matures in
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The coupon rate of Bond X is 8% and the bond pays interest annually and matures in three years. The one year, the two-year and three-year spot rate is 8%, 9%, and 10% respectively. The price of Bond X is closest to:
a 95.28
b. 103.56
c. 98.47
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