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(5 points) A bond has an 8.5% coupon rate and pays semi-annual interest for 10 years. How much is it worth if rates are 7%?

(5 points) A bond has an 8.5% coupon rate and pays semi-annual interest for 10 years. How much is it worth if rates are 7%? 9%?

What is the value of the bond at a YTM of 7% if the coupon payment is annual?

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