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What is the price of a bond with a coupon rate of 3 % , payable annually, a face value of $ 1 0 0

What is the price of a bond with a coupon rate of

3 %,

payable annually, a face value of $

1000, 5

years to maturity, and a yield to

maturity of

4 % ?

Enter your response below. Enter your answer to

2

DECIMAL PLACES.

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