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A 4-year bond with a $5,000 par value pays an annual 3% coupon annually. a) Assuming a discount rate of 6%, what is the price
A 4-year bond with a $5,000 par value pays an annual 3% coupon annually.
a) Assuming a discount rate of 6%, what is the price of the bond?
b) Assuming a discount rate of 4%, what is the price of the bond?
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