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The yield to maturity of a $ 1 comma 0 0 0 bond with a 7 . 5 % coupon rate, semiannual coupons, and two

The yield to maturity of a $

1

comma

000

bond with a

7.5 %

coupon

rate, semiannual

coupons, and two years to maturity is

7.8 %

APR

,

compounded semiannually. What is its

price?

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