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Johnson & Johnson has just issued a 15 year bond. The face value of the bond is 1.000$. The bond is based in USA and
Johnson & Johnson has just issued a 15 year bond. The face value of the bond is 1.000$. The bond is based in USA and pays coupon semi-annually; the annualized coupon is 3.75%. The current market interest rate (i.e. spot rate) for the bond is flat at 3% annualised. Please, find the price for the bond.
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