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A 12-year bond with a 9% coupon rate, $1,000 face value and semi-annual coupon payments was issued by Fancy Car Ltd five years ago. You

A 12-year bond with a 9% coupon rate, $1,000 face value and semi-annual coupon payments was

issued by Fancy Car Ltd five years ago. You bought this bond two years ago when the semi

annually compounded market interest rate was 7% (APR). How much did you pay for the bond?

Please list out calculations Step and Formula, Not Excel, Thank you

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