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Part 8. (Show all work for credit) What is the price of a bond that pays a semiannual coupon rate of 8%? The bond matures

Part 8. (Show all work for credit)

What is the price of a bond that pays a semiannual coupon rate of 8%? The bond matures in 20 years, has a yield to maturity equal to 7%, and has a face value of $1,000.

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