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You are considering a 12-year, $1,000 par value bond. Its coupon rate is 2.5%, and interest is paid 9 times a year. If you require

You are considering a 12-year, $1,000 par value bond. Its coupon rate is 2.5%, and interest is paid 9 times a year. If you require an effective annual interest rate (not a nominal rate) of 3.9%, how much are you be willing to pay for the bond

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