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06-06-2023
Business

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has a 4% annual coupon bond trading on the secondary market. The bond has a face value of $1,000 and will mature in exactly 5 years. If investors want a 9% annual return to buy this bond, what is a fair price today? (round to the nearest dollar) a $642 b $1,000 c $806 d $1,054 e $1,223

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