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The US Treasury issues a 2 0 - year Treasury bond to JP Morgan. They have a par value ( face value ) of $
The US Treasury issues a year Treasury bond to JP Morgan. They have a par value face value of $ an yield, a coupon rate, and pays semiannually. JP Morgan decides to convert this to STRIPS. Calculate the price of the STRIPS resulting from the conversion of the nd coupon payment of the original Treasury.
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