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A 1 3 - year zero - coupon bond was issued with a $ 1 , 0 0 0 par value to yield 2 0

13 -

year zero

-

coupon bond was issued with a $

1, 000

par value to yield

20 % .

What is the approximate market value of the bond? Use Appendix B

.

Note: Round

"

PV Factor" to

3

decimal places and final answer to the nearest dollar amount.

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