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Pease show all work 3. A bond has a par value of $1,000, a time to maturity of 10 years, and a coupon rate of

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3. A bond has a par value of $1,000, a time to maturity of 10 years, and a coupon rate of 8% with interest paid semi-annually. If the current market price is $750, what is the yield to maturity for this bond? What would this bond's price be if yield to maturity suddenly dropped to 3.5%

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