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Calculate the price of a zero-coupon bond that matures in 14 years if the market interest rate is 5.60 percent. Assume semiannual compounding. (Do not

image text in transcribedCalculate the price of a zero-coupon bond that matures in 14 years if the market interest rate is 5.60 percent. Assume semiannual compounding. (Do not round intermediate calculations and round your final answer to 2 decimal places.)

A bond issued by IBM on December 1, 1996, is scheduled to mature on December 1, 2096. If today is December 2, 2017, what is this bond's time to maturity? (Use 365 days a year.)

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