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An investor is considering buying a 1 0 - year, semiannual coupon bond with a face value of $ 1 , 0 0 0 and

An investor is considering buying a

10 -

year, semiannual coupon bond with a face value of $

1, 000

and a yield to maturity of

5.74 % .

The bond has a coupon rate of

6 % .

How much should the investor pay for this bond?

(

Use the formula to solve.

)

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