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Microhard has issued a bond with following characteristics: Par: $1000; Time to maturity: 2 years; Coupon rate: 7 percent; Semiannual payments. Calculate the price of

Microhard has issued a bond with following characteristics: Par: $1000; Time to maturity: 2 years; Coupon rate: 7 percent; Semiannual payments. Calculate the price of this bond if the yield to maturity is 9 percent. Is this bond sold at par

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