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A 20-year bond with 8% annual coupons is purchased at a price of P. The face amount of the bond is F. The price assumes

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A 20-year bond with 8% annual coupons is purchased at a price of P. The face amount of the bond is F. The price assumes an annual effective yield rate of 4%. The change in book value of the bond during the 8 th year is equal to 43.24. Calculate P. 2,315 2,470 2,625 2,780 3,085

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