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Two bonds have par values of $1,000. One is a 6 %, 18 -year bond priced to yield 10.0 %. The other is a(n) 9

Two bonds have par values of $1,000. One is a 6 %, 18 -year bond priced to yield 10.0 %. The other is a(n) 9 %, 20 -year bond priced to yield 6.0 %. Which of these two has the lower price? (Assume annual compounding in both cases.)

The price, PV, of the 6 %, 18 -year bond is?

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