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You have just purchased a 10-year, $1,000 par value bond. The coupon rate on this bond is 8% annually, with interest being paid each 6
You have just purchased a 10-year, $1,000 par value bond. The coupon rate on this bond is 8% annually, withinterest being paid each 6 months. If you expect to earn a 10 percent nominal rate of return ("YTM") on this bond, how much did you pay for it?
NOTE:Enter your answer as decimals, but without any dollar signs nor commas.For example, for a bond at par, you would enter:"1000" or "1000.00,"but not"$1000."
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