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You just purchased a 15-year bond with an 11% annual coupon rate (coupons are paid semi-annually). The bond has a face value of $1000 and
You just purchased a 15-year bond with an 11% annual coupon rate (coupons are paid semi-annually). The bond has a face value of $1000 and a current yield of 10%. Assuming that yield to maturity remains constant, what will be the price of the bond one year from now?
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