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You buy a 7 percent, 15-year, $1,000 par value floating rate bond in 1999. By the year 2004, rates on bonds of similar risk are

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You buy a 7 percent, 15-year, $1,000 par value floating rate bond in 1999. By the year 2004, rates on bonds of similar risk are up to 9 percent. What is your one best guess as to the value of the bond? Value of the bond

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