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A $ 1,000 corporate bond has a 10% coupon and pays semi annual interest payments. It matures in 10 years. If the current market rate

A $ 1,000 corporate bond has a 10% coupon and pays semi annual interest payments. It matures in 10 years. If the current market rate of interest on similar bonds is 12%, what is the fair price for the bond? Hint : Rate NPER PMT PV FV

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