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Consider an annual coupon bond with a face value of $100, 12 years to maturity, and a price of $94. The coupon rate on the

Consider an annual coupon bond with a face value of $100, 12 years to maturity, and a price of $94. The coupon rate on the bond is 8%. If you can reinvest coupons at a rate of 1% per annum, then how much money do you have if you hold the bond to maturity?

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