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3. Suppose you want to buy a 10 percent coupon rate, $1,000 face value, 8-year bond today. The YIM is 8 percent per year compounded

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3. Suppose you want to buy a 10 percent coupon rate, $1,000 face value, 8-year bond today. The YIM is 8 percent per year compounded quarterly. What is the price of the bond? (14 points) Show your calculation to get full points. Check your answer: The bond price is $1,117.34

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