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Fifteen years ago your grandfather purchased for you a 20 -year ( $ 1,000 ) bond with a coupon rate of 9 percent. You now
Fifteen years ago your grandfather purchased for you a 20 -year \\( \\$ 1,000 \\) bond with a coupon rate of 9 percent. You now wish to sell the bond and read that yields are 6 percent. What price should you receive for the bond? Assume that the bond pays interest annually. Use Appendix B and Appendix D to answer the question. Round your answer to the nearest dollar
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