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Melquiades Inc. has issued a bond with the following characteristics: Par value: $1,000 Time to maturity: 15 years Coupon rate: 7%, with coupons paid semi-annually

Melquiades Inc. has issued a bond with the following characteristics: Par value: $1,000 Time to maturity: 15 years Coupon rate: 7%, with coupons paid semi-annually Calculate the price of the bond if the yield to maturity (YTM) is a. 7 percent b. 9 percent c. 5 percent

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