A$1000 bond, payingsemi-annual coupons at j2=7%, is redeemable in 5 years. It is purchased for$966.20 to yield
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A$1000 bond, payingsemi-annual coupons at j2=7%, is redeemable in 5 years. It is purchased for$966.20 to yield j2=8%. What is the bond redeemableat? (to nearest$1)
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