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A bond that matures in 9 years has a $ 1 , 0 0 0 par value. The annual coupon interest rate is 1 5

A bond that matures in

9

years has a

1, 000

par value. The annual coupon interest rate is

15

percent and the

market's required yield to maturity on a

comparable

-

risk bond is

16

percent. What would be the value of this bond if it paid interest

annually? What would be the value of this bond if it paid interest

semiannually?

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