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Solve the following question with the correct formula using a calculator: What is the annual coupon payment for a bond (par value of $1,000) with
Solve the following question with the correct formula using a calculator:
What is the annual coupon payment for a bond (par value of $1,000) with 7 years until maturity, a price of $1,000, and a discount rate of 6%?
A) $80 B) $70 C) $60 D) $50 E) None of the above
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