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You have a $1,000 bond at 4% that matures in five years and pays interest annually. You want to sell it, but the current interest
You have a $1,000 bond at 4% 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 8% interest.
What is the current value of your bond?
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