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Consider a 10-year bond with face value X dollars and coupon rate 2%. If you needed to get a yield of 3% on this bond,

Consider a 10-year bond with face value X dollars and coupon rate 2%. If you needed to get a yield of 3% on this bond, would you have to pay more or less than X dollars for the bond? (No calculations are required here! You can determine how the bond price relates to its face value just by comparing the coupon rate to the yield).

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