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A bond offers a coupon rate of 7%, paid annually, and has a maturity of 16 years. The current market yield is 6%. Face value

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A bond offers a coupon rate of 7%, paid annually, and has a maturity of 16 years. The current market yield is 6%. Face value is $1,000. If market conditions remain unchanged, what should the price of the bond be in 1 year? Assume the market yield remains unchanged

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