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A 20-year bond pays 6% on a face value of $1,000. If similar bonds are currently yielding 7%, what is the market value of the
A 20-year bond pays 6% on a face value of $1,000. If similar bonds are currently yielding 7%, what is the market value of the bond? Use annual analysis
a over 1,000
b between 950 and 1000
c between 850 and 900
d between 680 and 800
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