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Consider a bond with a Par Value of $1,000. It pays a coupon of 7% and the coupon is paid monthly. It matures in 2

Consider a bond with a Par Value of $1,000. It pays a coupon of 7% and the coupon is paid monthly. It matures in 2 years. Calculate the NPV if the yield on the bond is 5% and the price of the bond is $1,100.

		$37.99
		-$62.01
		$1,037.99
		None of the answers are correct

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