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Question 5: Bennifer Jewelers just issued ten-year bonds that make annual coupon payments of $50. Suppose you purchased one of these bonds at par value

Question 5: Bennifer Jewelers just issued ten-year bonds that make annual coupon payments of $50. Suppose you purchased one of these bonds at par value ($1,000) when it was issued. Right after your purchase, market interest rates jumped, and the YTM (interest rate) on your bond rose to six percent. What is the new price of you bond?

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