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A coupon bond that pays interest quarterly has a par value of $ 1 0 0 0 , matures in 2 0 years, and has

A coupon bond that pays interest quarterly has a par value of $

1000,

matures in

20

years, and has a yield

to maturity of

6.5 % .

If the coupon rate is

8 %,

the value of the bond today will be

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