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2. What is the price of a 2-year bond that pays no coupon? The required rate of return is 12%, and the security has a

2. What is the price of a 2-year bond that pays no coupon? The required rate of return is 12%, and the security has a par value of $1,000. Comment on why the price of the 2-year bond exceeds the price of the 20-year bond in the previous problem.
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What is the price of a 2-year bond that pays no coupon? The required rate of return is 12%, and the security has a par value of $1,000. Comment on why the price of the 2-year bond exceeds the price of the 20-year bond in the previous

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