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Today, October 30, 2020, you want to buy a bond that has a face value of $1,000 and a quoted price of 98.64. The bond

Today, October 30, 2020, you want to buy a bond that has a face value of $1,000 and a quoted price of 98.64. The bond pays interest on June 30 and December 31. In this case, $986.40 represents your total cost of purchasing this bond today.

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