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A $20,000 bond with a coupon rate of 6.50% is redeemable on October 1,2013 . The bond coupons are paid every month. If the bond

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A $20,000 bond with a coupon rate of 6.50% is redeemable on October 1,2013 . The bond coupons are paid every month. If the bond was purchased on 1,2009 , when the interest rate in the market was 4.00% compounded monthly, what was the purchase price of the bond? Round to the nearest cent

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