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Posted on Jul 30, 2024

An investor purchases a 1 2 - year, $ 1 , 0 0 0 par bond with a 5 % coupon rate. The bond pays

An investor purchases a

12 -

year, $

1, 000

par bond with a

5 %

coupon rate. The bond pays coupons on March

1

and September

1 .

If the bond is purchased on June

26, 2023 (

settlement date

)

when it is trading for $

950,

what is the dirty price of the bond? Round your answer to the nearest dollar. Do not include the $

.

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