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Use the following information to answer the next three questions: Suppose you purchase a 20 -year Treasury bond with a 5% annual coupon, initially trading

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Use the following information to answer the next three questions: Suppose you purchase a 20 -year Treasury bond with a 5% annual coupon, initially trading at par. Eight years after being issued the bond's yield to maturity has risen to 7% (EAR). Question: After the bond's yield to maturity rises to 7%, the bond price would be closest to? $1,177.27 $1,000.00 $1,129.26 $841.15 $880.57

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