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Posted on Oct 06, 2024

You have a $1,000, 8% bond that matures in five years and pays interest annually. You want to sell it, but the current interest rate

You have a $1,000, 8% bond that matures in five years and pays interest annually. You want to sell it, but the current interest rate on a similar investment that matures in five years is now paying 4% interest.

What is the current value of your bond?

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