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Posted on Aug 29, 2024

A bond has a par value of $ 1 , 0 0 0 , pays $ 7 0 semiannually and has a maturity of 1

A bond has a par value of $

1, 000,

pays $

70

semiannually and has a maturity of

15

years.If the bond earns

12 %

per year, what is the price of the bond?

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