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A 1 0 year, $ 1 , 0 0 0 par value bond will pay a $ 1 0 coupon each six months. If the

10

year, $

1, 000

par value bond will pay a $

10

coupon each six months. If the yield to maturity is

4 %,

what is the value of the bond today using semiannual analysis?

836

759

1, 000

880

924

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