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Sean buys a 12-year bond with semiannual coupons of $21 each and a redemption value of $1000. Sean bought the bond to yield 8% compounded

Sean buys a 12-year bond with semiannual coupons of $21 each and a redemption value of $1000. Sean bought the bond to yield 8% compounded semiannually. Determine the amount of increase in the book value at the time of the 8th coupon payment.

Possible Answers

A 15.62

B 10.97

C 10.55

D 10.14

E 9.75

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