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On July 1 , 2 0 1 5 , Janet purchased a corporate bond with a face value of $ 4 0 , 0 0

On July 1,2015, Janet purchased a corporate bond with a face value of $40,000 and coupon rate of 3.5% compounded semi-annually. The bond matures in 20 years. On July 1,2020, Janet decides to sell the corporate bond. How much is the bond worth if interest rate for similar bonds is J2=2.8%.

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