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You have a chance to buy a bond that has an annual nominal coupon rate of 12% and a par value of 1,000. Coupon payment

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You have a chance to buy a bond that has an annual nominal coupon rate of 12% and a par value of 1,000. Coupon payment is paid monthly. If you could earn an annualized rate of 8% on your money in other investments with equal risk. What is the most you should pay for the bond? You have a chance to buy a bond that has an annual nominal coupon rate of 12% and a par value of 1,000. Coupon payment is paid monthly. If you could earn an annualized rate of 8% on your money in other investments with equal risk. What is the most you should pay for the bond

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