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A 21-year bond has a 3 percent annual coupon, a yield to maturity of 5...

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Accounting

A 21-year bond has a 3 percent annual coupon, a yield to maturity of 5 percent, and a face value of $1,000. what is the price of the bond?

A. 763.58

B. 733.58

C. 743.58

D. 723.58

E. 753.58

Answer & Explanation Solved by verified expert
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