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1. a. A 7-year US Treasury bond with a face value of $1000 has a quoted price of 83:27. What is its price in dollars

a. A 7-year US Treasury bond with a face value of $1000 has a quoted price of 83:27.

What is its price in dollars and cents?

Round to the nearest cent if needed.

b. A 7-year US Treasury bond with a face value of $2000 has a quoted price of 80:19.

What is its price - when expressed in dollars and cents?

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