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An investor purchases a 7-year $1,000 par value bond that pays semiannual interest of $40. If the semiannual market rate of interest is 5%, what

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An investor purchases a 7-year $1,000 par value bond that pays semiannual interest of $40. If the semiannual market rate of interest is 5%, what is the current market value of the bond? (FV of $1. PV of $1. FVA of $1. PVA of $1. FVAD of $1 and PVAD of $1 (Use appropriate factor(s) from the tables provided.) Multiple Choice 0 $901. 0 $944. O S1000

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