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A zero coupon bond is a security that pays no interest, and is therefore bought at a substantial discount from its face value. If stated

A zero coupon bond is a security that pays no interest, and is therefore bought at a substantial discount from its face value. If stated interest rates are 5% annually (with continuous compounding) how much would you pay today for a zero coupon bond with a face value of $1200 that matures in 9 years?

Please round your answer to the nearest cent

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