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Answer is 18. I need a detailed explanation of why. you have just been offered a bond for $1,065.95. The coupon rate is 8%, interest

Answer is 18. I need a detailed explanation of why. image text in transcribed

you have just been offered a bond for $1,065.95. The coupon rate is 8%, interest is paid semi-annually. Interest rates on new issues with the same degree of risk are 7%. You want to know how many more interest payments you will receive, but the party selling the bond cannot remember, If the par value is $1,000, how many interest payments remain

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