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36. How much would an investor expect to pay for a $1,000 pay value bond with a 9% annual coupon that matures in 5 years

36. How much would an investor expect to pay for a $1,000 pay value bond with a 9% annual coupon that matures in 5 years if the interest rate is 7%?

a. $696.74

b. $1,075.82

c. $1,082.00

d. $1,123.01

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