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What is the value of a 5-year maturity, 3% coupon annual pay bond with a face value of $7,000 if the discount rate is 4%?

What is the value of a 5-year maturity, 3% coupon annual pay bond with a face value of $7,000 if the discount rate is 4%? Select one: $8,853.23 $6,528.71 $6,688.37 None of the presented responses is correct $11,837.95

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