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I need help answering this question. I do not know which formula to use. What is the value of a bond that has a par
I need help answering this question. I do not know which formula to use.
What is the value of a bond that has a par value of $1,000, a coupon rate of 7.16 percent (paid annually), and that matures in 4 years. The required rate of return on this bond is 8.09 percent.
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