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You are given the following information with respect to a bond: The following information with respect to a bond: Par Value = 1000 and Term
You are given the following information with respect to a bond:
The following information with respect to a bond: Par Value = 1000 and Term to Maturity = 3 years Annual Coupon Rate = 6% Assuming that the bond pays annual coupons at the end of each year and redeems at par value, calculate the price of the bond on the date that it was issued. Round your answer to the nearest whole numberStep by Step Solution
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