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Consider the market rates for the maturities 1, 2, and 3 years respectively in the table below. What is the price of a 3 year

Consider the market rates for the maturities 1, 2, and 3 years respectively in the table below. What is the price of a 3 year bond with annual payments, coupon rate equal to 8.75% and face value equal to $44,000.

R(0,t)

1 1.65

2. 3.65

3 4.80

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