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Seven years ago you purchased a $1,000 par bond with a 7% semi-annual coupon and 12 years to maturity at a yield of 6.2%. Today
Seven years ago you purchased a $1,000 par bond with a 7% semi-annual coupon and 12 years to maturity at a yield of 6.2%. Today the bond trades at a yield of 9.15%. What is the price of the bond today?
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A. $1,033.95
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B. $639.78
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C. $915.25
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D. $845.33
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