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16 years ago you bought a corporate bond for $1,000. It was a 20 year bond with a coupon of 6%. Today, a similar bond

16 years ago you bought a corporate bond for $1,000. It was a 20 year bond with a coupon of 6%. Today, a similar bond has an 8% coupon. What is the value of the bond?

How would I solve? And can you explain how to obtain the numbers located in the parentheses.

thank you

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