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A bond you are considering has a par value of $1,000 and a coupon rate of 6.0%, though coupons are paid semiannually. There are exactly
A bond you are considering has a par value of $1,000 and a coupon rate of 6.0%, though coupons are paid semiannually. There are exactly 16 years to maturity. The annual yield to maturity is 4.5%. How much will you invest if you buy 500 bonds, and how much income will you receive?
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