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Ten years into a bond with a fifteen year maturity, interest rates have declined. The bond has a face value of $1000 and a coupon

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Ten years into a bond with a fifteen year maturity, interest rates have declined. The bond has a face value of $1000 and a coupon rate of 9%. If interest rates are now at 7%, what is the annual interest payment on this bond? $90 $45 $70 $35

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