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An n-year bond that pays semiannual coupons has a face value of $1,000 and is priced at $1,225. The ratio of the semiannual coupon rate

An n-year bond that pays semiannual coupons has a face value of $1,000 and is priced at $1,225. The ratio of the semiannual coupon rate c to the semiannual yield rate j is 1.25, and n j = 0.7026. Find the redemption value of the bond.

(A) 1199.36

(B) 1204.38

(D) 1214.42

(E) 1225.00

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