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Posted on Jul 25, 2024

You have a $ 1 , 0 0 0 face value bond. You know that it originally had a maturity of 1 3 years, one

You have a $

1, 000

face value bond. You know that it originally had a maturity of

13

years, one year ago. This bond has

7 %

annual rate coupons, that are paid twice a year. The market for bonds like this has a YTM of

5.3 %

What is the current price?

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