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What is the value of a bond with a face value of $500, 7 years to maturity and a quarterly coupon paid at a coupon

What is the value of a bond with a face value of $500, 7 years to maturity and a quarterly coupon paid at a coupon rate of 8%, if it is trading at a yield of 2% p.a.? Select one:

a. $695.51 b. $692.61 c. $694.16 d. $693.96 Feedback

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