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You are purchasing a 20-year, zero-coupon bond. The annual yield to maturity is 9.80 percent and the face value is $1,000. What is the current

You are purchasing a 20-year, zero-coupon bond. The annual yield to maturity is 9.80 percent and the face value is $1,000. What is the current market price? Assume (r) is bi-annual for compounding purposes in case of zero-coupon bond.

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