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eBook ou are considering a 1 5 - year, $ 1 , 0 0 0 par value bond. Its coupon rate is 8 % ,
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ou are considering a year, $ par value bond. Its coupon rate is and interest is paid semiannually. If you require an "effecti nnual interest rate not a nominal rate of how much should you be willing to pay for the bond? Do not round intermediate calc Round your answer to the nearest cent.
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