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Posted on Aug 11, 2024

A 8 - year, $ 1 0 0 0 face value bond makes annual payments and has a coupon rate of 8 . 9 percent.

8 -

year, $

1000

face value bond makes annual payments and has a coupon rate of

8.9

percent.

If the current yield on the bond is

8.7

percent, what is the bond's price?

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