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Seven years ago Eastern Corporation issued 20-year bonds that had a $1,000 face value, paid interest annually, and had a coupon rate of 7 percent.

Seven years ago Eastern Corporation issued 20-year bonds that had a $1,000 face value, paid interest annually, and had a coupon rate of 7 percent. If the market rate of interest is 5.5 percent today, what is the current market price of an Eastern Corporation bond? Are these bonds selling at a premium or a discount?

(please write it out I can't use excel and do not understand the financial calculator) (also idk how to get N)

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