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A 2 5 - year, $ 1 , 0 0 0 strip bond was first issued at 5 . 5 % compounded semiannually. Five years
A year, $ strip bond was first issued at compounded semiannually. Five years before maturity it was sold on the bond market at a price that would provide the purchaser with a yield rate of compounded semiannually. To the nearest dollar, what was the selling price at that time? $ $ $ $ $
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