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Assume you have a bond with a 5% semiannual-pay and a face value of $1,000. This bond will mature in 6 years. If the yield

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Assume you have a bond with a 5% semiannual-pay and a face value of $1,000. This bond will mature in 6 years. If the yield is 7%, what is the price of this bond? Select one: a. $903.37 b. $1,005.37 c. $1,000.00 d. $878.86

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