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Your client has been offered a 10-year, $2,000 par value bond with a 10 percent coupon. Interest on this bond is paid quarterly. If your
Your client has been offered a 10-year, $2,000 par value bond with a 10 percent coupon. Interest on this bond is paid quarterly. If your client is to earn a nominal rate of return of 12 percent, compounded quarterly, how much should she pay for the bond at the end of the second year? (Answer is rounded)
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