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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 the interest

A zero-coupon bond is a security that pays no interest and is therefore bought at a substantial discount from its face value. If the interest rate is 11% with annual compounding how much would you pay today for a zero-coupon bond with a face value of $2,600 that matures in 7 years?

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