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8. Calculate the present value of a bond that pays a coupon rate of 3% per year for 10 years, and matures in 10 years

8. Calculate the present value of a bond that pays a coupon rate of 3% per year for 10 years, and matures in 10 years at its face value of $1000, using each of the following current market interest rates as the discount rate:

(a) 2%;Show your calculations.

(b) 3%Show your calculations.

; (c) 5%. Show your calculations.

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