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Posted on May 25, 2024

A $1000 bond with annual coupons at 8 1 2% and maturing in 20 years at par is purchased to yield an annual eective rate

A $1000 bond with annual coupons at 8 1 2% and maturing in 20 years at par is purchased to yield an annual eective rate of interest of 9% if held to maturity. The book value of the bond at any time is...

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