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A 1 4 - year bond pays semi - annual coupons at j 2 = 9 % and has a yield rate of j 2
A year bond pays semiannual coupons at and has a yield rate of If the book value immediately after the th coupon payment is $
and the book value immediately after the th coupon payment is $ what is the bond's
Answer: $
NOTE: Assume the note is NOT redeemable at par.
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