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What is the price of the 10 -year bond that pays a 5 percent coupon payment on a $1000 par value if the yield to

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What is the price of the 10 -year bond that pays a 5 percent coupon payment on a $1000 par value if the yield to maturity is 3% a) $1,170.60 b) $1,000.00 c) Less than $1,000 d) None of the above

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