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Assume a bond has a par value of $1,000 and a coupon rate of interest of 8% paid annually. Further assume that the bond matures

Assume a bond has a par value of $1,000 and a coupon rate of interest of 8% paid annually. Further assume that the bond matures in 10 years and that the yield to maturity demanded by investors in this bond is 10%. Find the price of the bond.

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