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You are purchasing a 1 5 - year, zero coupon bond. The yield to maturity is 5 . 6 percent and the face value is

You are purchasing a

15 -

year, zero

coupon bond. The yield to maturity is

5.6

percent and the face value is $

1, 000 .

What is the current market price? Assume semiannual compounding.

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