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Robert Smith just purchased a 10-year bond for $944. The bond has a coupon rate of 8% and pays coupons semiannually. Robert does not intend
Robert Smith just purchased a 10-year bond for $944. The bond has a coupon rate of 8% and pays coupons semiannually. Robert does not intend to hold the bond until maturity, instead, he plans to sell the bond in exactly 5 years. What is the price Robert can sell the bond for at this time?
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