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How much would you pay for a zero coupon bond with a par value of $ 1 0 0 0 , a maturity of 1

How much would you pay for a zero coupon bond with a par value of $

1000,

a maturity of

19

years, if your required rate of return is

8.8 % ?

Assume annual discounting.

(

Round your answer to the nearest penny.

)

Answer:

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