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You purchased a $1,000 bond that matures in 15 years and has a 7.0% coupon rate. If current interest rates fall to 6.25% what would
You purchased a $1,000 bond that matures in 15 years and has a 7.0% coupon rate. If current interest rates fall to 6.25% what would be the price of the bond?
1) $1,000
2) $1,071.67
3) $975.64
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Introduction To Finance
Authors: Lawrence J Gitman, Jeff Madura
1st Edition
0201635372, 9780201635379
