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A bond is issued at a price of $1000 and pays. A interest of $40 per year for the next 10 years. If the interest

A bond is issued at a price of $1000 and pays. A interest of $40 per year for the next 10 years. If the interest rate in the market is 5.5%.



The bond is redeemed  for a price of $1000 then what is the price of the bond today?

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