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Use the information for the question(s) below. Suppose you purchase a 10-year default-free bond with 3% annual coupons. The face value of the bond is
Use the information for the question(s) below. Suppose you purchase a 10-year default-free bond with 3% annual coupons. The face value of the bond is $100. You hold the bond for 6 years and sell it immediately after receiving the 6th coupon. Suppose the bond's yield to maturity was 5% when you purchased and sold the bond. The price at which you sold the bond (immediately after receiving the 6th coupon) is closest to: None of the other answers are correct. $82.27 $92.91 $89.85 $84.56
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