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A bond has a face value of 1 , 0 0 0 , a 1 2 % yield - to - maturity ( APR )

A bond has a face value of

1, 000,

12 %

yield

-

-

maturity

(

APR

),

and

6

years to maturity. The bond has a

10 %

coupon rate and makes semi

-

annual payments. Compute the bond value.

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