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A semi-annual coupon bond has a 12% annual coupon rate. Which means it will pay semi-annual coupon payments of $60 every six months until maturity.

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A semi-annual coupon bond has a 12% annual coupon rate. Which means it will pay semi-annual coupon payments of $60 every six months until maturity. The bond matures in sib years. Assuming a face value of $1,000, if the annual market interest rate is 8.8\% APR, what is the current price of the bond? S64 51.083 $1.000 $1.147

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