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1 . Consider a zero - coupon bond, par $ 1 0 , 0 0 0 , with exactly 5 years until maturity. Market EFFECTIVE

1.Consider a zero-coupon bond, par $10,000, with exactly 5 years until maturity. Market EFFECTIVE interest rates are 4.04%/year (nominal annual interest rate is 4.0%). What's the bond worth?

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