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c) A zero-coupon bond with a par value of $1,000 has a current yield to maturity of 9%. If the bond has a maturity of

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c) A zero-coupon bond with a par value of $1,000 has a current yield to maturity of 9%. If the bond has a maturity of 8 years, what price should you pay if you buy the bond today? [5 marks]

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