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A five-year bond has an 8.0 percent coupon rate and a $1,000 face value. If the yield to maturity on the bond is 9 percent,
A five-year bond has an 8.0 percent coupon rate and a $1,000 face value. If the yield to maturity on the bond is 9 percent, calculate the price of the bond assuming that the bond makes semiannual coupon payments (please show steps)
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