Q3.22. Assume that the 3% level-coupon bond discussed in this chapter has not just 5 years with
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Q3.22. Assume that the 3% level-coupon bond discussed in this chapter has not just 5 years with 10 payments, but 20 years with 40 payments. Also, assume that the interest rate is not 5% per annum, but 10.25% per annum. What are the bond payment patterns and the bond's value?
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