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ou purchased a 15-year bond 8 years ago at a yield to maturity of 8.25%. The bond has a face value of $1,000 and a

ou purchased a 15-year bond 8 years ago at a yield to maturity of 8.25%. The bond has a face value of $1,000 and a coupon rate of 9.00%. If the investors required rate of return on this bond has stayed the same for 8 years, what is the price of the bond today?

  • $1,039.29
  • $1,022.40
  • $1,025.12
  • $1,063.87

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