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What is the market price of a $1,000, 9 percent bond if current market interest rates drop to 7 percent and the bond matures

What is the market price of a $1,000, 9 percent bond if current market interest rates drop to 7 percent and the bond matures in 12 years? Round to nearest cent. DO NOT INCLUDE COMMAS OR $. Typed numeric answer will be automatically saved.

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