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7. Pam Smith just inherited a $1,000 face value K-S Inc. bond from her grandmother. The bond clearly indicates a 12% coupon rate, but the
7. Pam Smith just inherited a $1,000 face value K-S Inc. bond from her grandmother. The bond clearly indicates a 12% coupon rate, but the maturity date has been smudged and cant be read. Pam called a broker and determined that similar bonds are currently returning about 8% and that her bond is selling for $1326.58. How many more interest payments can Pam expect to receive on her inherited bond?
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