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Mahima Singh is considering investing in a corporate bond. The bond pays an annual interest of 1 2 % with a par value of$ 1

Mahima Singh is considering investing in a corporate bond. The bond pays an annual interest of 12% with a par value of$1,000. Interest is paid semi-annually and will mature in 8 years.
Calculate the value of the bond today if the yield rate is 10%.

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