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Business, 11.02.2021 18:00 weeman67161

4-13. A $1,000 bond matures in 10 years. The bond pays interest of 10% a year, with half of the annual interest paid at midyear and the other half paid at year-end. The bond is selling below $1,000, so that the yield to maturity earned by an investor is actually 6% each 6-month period. What is the price of the bond

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