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A 12-year bond with a face value of $5000 is redeemable at par and earns interest at j2= 9.2%. If the yield rate is j2=
A 12-year bond with a face value of $5000 is redeemable at par and earns interest at j2= 9.2%. If the yield rate is j2= 7.8%, find the book value 2 months before the payment of the 9th coupon. Use compound interest for points in time between coupon payments.
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