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PLEASE SHOW HOW ARRIVED AT ANSWER. THANK YOU A bond currently sells for $925. It is a 20-year bond with a par value of $1,000

PLEASE SHOW HOW ARRIVED AT ANSWER. THANK YOU

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A bond currently sells for $925. It is a 20-year bond with a par value of $1,000 and has a 9% annual coupon. If the bond's yield to maturity [YTM] remains at its current rate, what will be the price of the bond 3 years from now? [Hint: Think of remaining years to maturity]

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