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A 9-year bond pays semi-annual coupons at j 2 j2 = 8.8% and has a yield rate of j 2 j2 = 7%. If the
A 9-year bond pays semi-annual coupons at j2j2 = 8.8% and has a yield rate of j2j2 = 7%. If the book value immediately after the 7th coupon payment is $1103.05, and the book value immediately after the 11th coupon payment is $1098.87, what is the bond's face value?
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Public Finance
Authors: Richard W. Tresch
4th Edition
0128228644, 978-0128228647
