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Two different 10-year bonds both have a $100 face value, both pay annual coupons, and both have the same redemption value. Bond 1 was purchased
Two different 10-year bonds both have a $100 face value, both pay annual coupons, and both have the same redemption value. Bond 1 was purchased at a yield rate of 5% for a premium of $5.79. Bond 2 was purchased at a yield rate of 7% for a discount of $9.48.Find the redemption value of the bonds.
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