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For a twenty-year $10,000 bond with a coupon rate of 5%, what is the market value when the interest rate is 5.5% and ten years
For a twenty-year $10,000 bond with a coupon rate of 5%, what is the market value when the interest rate is 5.5% and ten years remaining?
The answer is $3768.81+$5854.31=$9623.12 but I don't know how to reach there.
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