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On January 1, 2017, you purchased a bond with a December 31, 2021 maturity. At the time of purchase, bonds with the same risk were

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On January 1, 2017, you purchased a bond with a December 31, 2021 maturity. At the time of purchase, bonds with the same risk were yielding 7%. The purchased bond has a coupon rate of $80 paid annually and a face value of $1.000. A year later, after you received the first $80 coupon, you sold the bond when bonds with the same risk had a yield of 6.8%. What was the difference between your selling price and buying price in nominal terms? Possible Answers The buying price was at least $25 more than the selling price. The buying price was at least $15 more than the selling price, but less than $25 more than the selling price. The buying price was at least 85 more than the selling price. but less than $15 more than the selling price. The buying price was within $5 of the selling price The buying price was less than the selling price by at least 55

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