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An analyst is interested in calculating the cash price of a bond. He is analyzing a 10,000 USD, five-year bond redeemable at par and bearing

An analyst is interested in calculating the cash price of a bond. He is analyzing a 10,000 USD, five-year bond redeemable at par and bearing interest at 6.5% payable semi-annually.

The bond is purchased at a market price of 10,000 USD four years and 10 months before maturity.

Determine the cash price of the bond. Note: the cash price = market price + accrued interest

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