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Q2. James has a 7 percent coupon $10,000 bond with semi-annual payments. It has seven payments to maturity. The latest payment was received yesterday. What

Q2. James has a 7 percent coupon $10,000 bond with semi-annual payments. It has seven payments to maturity. The latest payment was received yesterday. What is its price if it yields 5.2 percent? (5 marks for the correct formula & working and 5 marks for the correct answer to equal a total of 10 marks).

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