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Ten years ago your granfather purchased for you a 25-year $1,000 bond with a coupon rate of 7 percent. You now wish to sell the
Ten years ago your granfather purchased for you a 25-year $1,000 bond with a coupon rate of 7 percent. You now wish to sell the bond and read that yeilds are 5 percent. What price should you recieve for the bond?
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