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What is the value of a $1,000 face value bond that pays a 5% coupon rate that will mature in 3 years if the interest
What is the value of a $1,000 face value bond that pays a 5% coupon rate that will mature in 3 years if the interest rate on similar risk bonds is 6%?
A. $973.27 B. $1,054.23 C. $1,107.11
Please show your calculation. Thanks
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