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Investor buys bond for $1000. Bond pays $90 annual interest coupon. Investor holds bond for 5 years, reinvesting each interest coupon at 7%. After 5
Investor buys bond for $1000. Bond pays $90 annual interest coupon. Investor holds bond for 5 years, reinvesting each interest coupon at 7%. After 5 year investor sells bond for $1120. What is the Future Value of the coupons (The total value of all the coupons in 5 years). Round your answer to 2 decimal places.
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