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Bond E has the following features: Face value = $1,000, Coupon Rate = 9%, Maturity = 5 years, Yearly coupons The market interest rate is

Bond E has the following features:

Face value = $1,000, Coupon Rate = 9%,

Maturity = 5 years, Yearly coupons

The market interest rate is 3.47%

If interest rate remains at 3.47% for the life of the bond (i.e., 3.47 years), what is the price of Bond E in year 2?

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