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(c) A zero-coupon bond has a yield to maturity of 5% and a par value of $1,000. If the bond matures in 16 years,
(c) A zero-coupon bond has a yield to maturity of 5% and a par value of $1,000. If the bond matures in 16 years, what is its current price?
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Financial Accounting Theory and Analysis Text and Cases
Authors: Richard G. Schroeder, Myrtle W. Clark, Jack M. Cathey
10th edition
470646284, 978-0470646281
