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You have just been offered a $1,000 par value bond for $1,164.01. The coupon rate is 11 percent, payable annually, and annual interest rates on

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You have just been offered a $1,000 par value bond for $1,164.01. The coupon rate is 11 percent, payable annually, and annual interest rates on new issues of the same degree of risk are 7 percent. You want to know how many more interest payments you will receive, but the party selling the bond cannot remember. Can you determine how many interest payments remain? 7 8 5 6 9

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