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3) What is the value of a 20-year $1,000 par value bond which pays coupon of $40 every half year and has 10 years to

3) What is the value of a 20-year $1,000 par value bond which pays coupon of $40 every half year and has 10 years to go before it matures, if the yield-to- maturity (required rate of return) of this bond is 10% p.a.? 1

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