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A $1000 bond with 5% annual coupons matures in 8 years and is redeemable at $1020. Xavier buys this bond 2 months after issue. Find

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A $1000 bond with 5% annual coupons matures in 8 years and is redeemable at $1020. Xavier buys this bond 2 months after issue. Find the purchase price of this bond at an effective annual yield rate of 6%. Possible Answers A 947.05 B 950.45 C 959.73 D 978.36 E 1067.93

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