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Consider the following information: You are an investor who wants to buy a bond and you want to get an 8 . 7 5 %

Consider the following information: You are an investor who wants to buy a bond and you want to get an 8.75% return. Your broker finds a bond for you with the following details. PAR value $2,000, coupon payments are $35/quarter. Todays price for this bond is $1,654.29. Time to maturity is 15 years.

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