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Posted on Aug 29, 2024

A $1,000, 5% bond with semiannual coupons redeemable at par on September 1, 2023, is bought on March 1, 2020, to yield 4% compounded semiannually.

A $1,000, 5% bond with semiannual coupons redeemable at par on September 1, 2023, is

bought on March 1, 2020, to yield 4% compounded semiannually. What was the purchase price?

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