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U.S. Treasury sells you a bond for $900. It has no payments until the bond matures 5 years from now, at which time it will
U.S. Treasury sells you a bond for $900. It has no payments until the bond matures 5 years from now, at which time it will be redeemed for $1,000. Then, the discount rate is less than 5\%. (10points) a
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