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You purchase a 30 year, $15, 000 bound with semiannual coupons, a coupon rate of r = 5% and a yield rate of j =
You purchase a 30 year, $15, 000 bound with semiannual coupons, a coupon rate of r = 5% and a yield rate of j = 6%. Immediately after the 40th coupon, you sell the bond so that your nominal semiannual yield over the 20 years is 4%. Find the price you sold the bond at.
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