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You have just been offered a bond for $1,065.15. The coupon rate is 8%, interest is paid annually. Interest rates on new issues with the
You have just been offered a bond for $1,065.15. The coupon rate is 8%, interest is paid annually. Interest rates on new issues with the same degree of risk are 7%. You want to know how many more interest payments you will receive, but the party selling the bond cannot remember. If the par value is $1,000, how many interest payments remain?
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