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Suppose a 20-year $1,000 5% Treasury note with semiannual coupon payments offers a 7% yield. What price would an investor pay to buy this note?

Suppose a 20-year $1,000 5% Treasury note with semiannual coupon payments offers a 7% yield. What price would an investor pay to buy this note? LO2

$786.45

$850.42

$1,043.54

$1,090.23

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