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A 1 8 - year German government bond ( bund ) has a face value of 5 0 0 and a coupon rate of 5

A 18-year German government bond (bund) has a face value of 500 and a coupon rate of 5% paid annually. Assume that the interest rate (in euros) is equal to 6.80% per year. What is the bond's PV?(Do not round intermediate calculations. Round your answer to 2 decimal places.)

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