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Kevin Rogers is interested in buying a five-year bond with a face value of $1,000 that pays a coupon of 10 percent on a semiannual
Kevin Rogers is interested in buying a five-year bond with a face value of $1,000 that pays a coupon of 10 percent on a semiannual basis. The current market rate for similar bonds is 8.8 percent. What should be the current price of this bond? O $965 O $1,099 $982 O $1,048
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