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A bond that has a 6% APR coupon, makes semiannual payments, and has five years until maturity will have a price closest to what value,

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A bond that has a 6% APR coupon, makes semiannual payments, and has five years until maturity will have a price closest to what value, if the market interest rate on a bond of this risk is 7% APR? a. $1000 b. $940 c. $1200 d. $960 e. $980

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