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Q3. A bond that matures in 15 years has a $1,000 par value. The annual coupon interest rate is 8 percent and the market's required

Q3. A bond that matures in 15 years has a $1,000 par value. The annual coupon interest rate is 8 percent and the market's required yield to maturity on a comparable-risk bond is 12 percent. What would be the value of this bond if it paid interest annually? What would be the value of this bond if it paid interest semiannually?

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