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A 10-year zero-coupon bond that yields 5% is issued with a $1,000 par value. What is the issuance price of the bond? Round to the

A 10-year zero-coupon bond that yields 5% is issued with a $1,000 par value. What is the issuance price of the bond? Round to the nearest dollar.

$614

$64

$6,140

(WRONG answer) None of these options

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