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Consider an annual coupon bond with a face value of $100, 11 years to maturity, and a price of $91. The coupon rate on the
Consider an annual coupon bond with a face value of $100, 11 years to maturity, and a price of $91. The coupon rate on the bond is 4%. If you can reinvest coupons at a rate of 5% 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 $ ________. (Round to the nearest cent.)
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