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HW12: Problem 1 Previous Problem List Next (1 point) An investor owns a $100 par value 8% bond with semiannual coupons. The bond will mature

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HW12: Problem 1 Previous Problem List Next (1 point) An investor owns a $100 par value 8% bond with semiannual coupons. The bond will mature at par at the end of 15 years. The investor decides that an 7-year bond would be preferable. Current yield rates of both bonds are 8% convertible semiannually. The investor uses the proceeds from the sale of the 8% bond to purchase a 6% bond with semiannual coupons, maturing at par at the end of 7 years. Find the par value of the 7-year bond. F-S

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