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An investor just invested in an outstanding bond with a 5% annual coupon rate and a remaining maturity of 10 years. The bond has a

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An investor just invested in an outstanding bond with a 5% annual coupon rate and a remaining maturity of 10 years. The bond has a par value of $1,000 and the market interest rate is currently 7%. How much did the investor pay for the bond? a $1,000 b. $1,539 c. $1,150 d. $860

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