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3. A coupon bond with a par value of $500,000. a) Find the price of the bond with a coupon rate of 4.8% payable

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3. A coupon bond with a par value of $500,000. a) Find the price of the bond with a coupon rate of 4.8% payable yearly. The bond matures in 20 years and is priced to yield 6%. b) How much money will you make if you purchase this bond? Show your work:

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