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What is the price of a bond with the following features? 8 years to maturity, face value of $1000, coupon rate of 4% (annual coupons)
What is the price of a bond with the following features?
8 years to maturity, face value of $1000, coupon rate of 4% (annual coupons) and yield to maturity (discount rate) of 5%.
Enter your answer in dollars, rounded to the nearest cent (that's 2 decimals).
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