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A 1 0 year 8 % bond with face value of 2 0 0 0 was purchased to give nominal annual yield of 1 0

10

year

8 %

bond with face value of

2000

was purchased to give nominal annual yield of

10 %

compounded semiannually until maturity. After the

13

th coupon, the bond was sold at the price to give the seller nominal annual yield of

12 %

compounded semiannually. What price was the bond sold?

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