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Consider an annual coupon bond with a face value of $100, 12 years to maturity, and a price of $93. The coupon rate on the
Consider an annual coupon bond with a face value of $100, 12 years to maturity, and a price of $93. The coupon rate on the bond is 9%. If you can reinvest coupons at a rate of 4% per annum, then how much money do you have if you hold the bond to maturity?
The total proceeds from holding the bond to maturity are $ nothing. (Round to the nearest cent.)
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