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15. Mr. Y has a par 1000 zero coupon bond at annual effective rate 3% issued on January 1, 2011, maturing on Jan 1, 2029.

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15. Mr. Y has a par 1000 zero coupon bond at annual effective rate 3% issued on January 1, 2011, maturing on Jan 1, 2029. Mr. Y sells the bond on Jan 1, 2023 at a discount to earn the purchaser 5%. How much does Mr. Y receive for the bond

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