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Consider a 5-year, 3% annual coupon rate bond with a par value of $1,000. Suppose that the discount rate is 8% per annum over the

Consider a 5-year, 3% annual coupon rate bond with a par value of $1,000. Suppose that the discount rate is 8% per annum over the life of the bond. Forecast the price of the bond for each of the first 3 years of the life of the bond

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