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Zero coupon bonds: Shana Norris wants to buy five-year zero coupon bonds with a face value if $1,000. Her yield to maturity is 6.85 percent.
Zero coupon bonds: Shana Norris wants to buy five-year zero coupon bonds with a face value if $1,000. Her yield to maturity is 6.85 percent. Assuming annual compounding, what would be the current market price of these bonds? (Round to the nearest dollar.)
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