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Today, Ping's Inc. issued a zero - coupon bond with $ 1 0 0 0 par value that matures in 2 5 years. If bond

Today, Ping's Inc. issued a zero

-

coupon bond with $

1000

par value that matures in

25

years. If bond investors require a

5 %

YTM with semi

-

annual compounding that will not change, what is the bond's price in

3

years?

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