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An n-year $1000 value bond matures at par and has a coupon rate 12% convertible semiannually. It is bought at a price to yield 10%

An n-year $1000 value bond matures at par and has a coupon rate 12% convertible semiannually. It is bought at a price to yield 10% convertible semiannually. If the term of the bond is doubled, the price will increase by $48. Find the price of the n-year bond. image text in transcribed

An n-year $1000 value bond matures at par and has a coupon rate 12% convertible semiannually. It is bought at a price to yield 10% convertible semiannually. If the term of the bond is doubled, the price will increase by $48. Find the price of the n-year bond

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