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What are the main characteristics of a Bond? Please define each of the bond characteristics. (10 Marks) Please show the workings of the following problems.

What are the main characteristics of a Bond? Please define each of the bond characteristics. (10 Marks)

Please show the workings of the following problems.

Calculate the present value of a 6 year bond with a 9% coupon. The interest rate is 12%

A 4 years bond with a 14% coupon can be bought for $1,200. What is the yield to maturity?

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