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Bank of America has bonds that pay a coupon interest rate of 5.5 percent and mature in 30 years. If an investor has a required

Bank of America has bonds that pay a coupon interest rate of 5.5 percent and mature in 30 years. If an investor has a required rate of return of 5.9 percent, what should she be willing to pay for the bond? What happens if she pays more or less?

The price she would be willing to pay for the bond is

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