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A 16-year zero-coupon bond was issued with a $1000 par value to yield 17. What is the approximate market value of the bond? Use Appendix

A 16-year zero-coupon bond was issued with a $1000 par value to yield 17. What is the approximate market value of the bond? Use Appendix B (Round "PV Factor" to 3 decimal places and final answer to the nearest dollar amount.) $61 $162 $81 $122

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