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A company is issuing a 3-year maturity bond that is expected to pay $40 every six month & a lump sum of $1000 at the

A company is issuing a 3-year maturity bond that is expected to pay $40 every six month & a lump sum of $1000 at the end of three years from now. If bond investors require 5% annual nominal interest rate (APR), how much is the price of this bond today? Please show your formula in your answer and explain step-by-step calculation to arrive to your final answer

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