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Two bonds have par values of $1,000. One is a 5%,16 year bond priced to yleld 8.0%. The other is a(n) 7%,22-yoar bond priced to

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Two bonds have par values of $1,000. One is a 5%,16 year bond priced to yleld 8.0%. The other is a(n) 7%,22-yoar bond priced to yield 4.5%. Which of these two tas the lower price? (Assume annual compounding in both cases.) The price. PY, of the 5\%, 16-year bond is 1 (Round to the nearest cent.)

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