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A 20-year, $1,000 par value bond has a 9% semi-annual coupon. The bond currently sells for $925. If the yield to maturity remains at its

A 20-year, $1,000 par value bond has a 9% semi-annual coupon. The bond currently sells for $925. If the yield to maturity remains at its current rate, what will the price be 4 years from now? 1. $952.84

2. $931.01

3. $945.72

4. $935.01

DO NOT COPY FROM CHEGG I NEED A FULL EXPLANATION

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