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A 20-year bond pays interest at 6% and was issued 12 years ago with a face value of $2,000. Assume semi-annual interest. What is the

A 20-year bond pays interest at 6% and was issued 12 years ago with a face value of $2,000. Assume semi-annual interest. What is the bonds price today if the interest rate on

comparable new bond issues is 4%?

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