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A zero-coupon bond is a security that pays no interest, and is therefore bought at...

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Accounting

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A zero-coupon bond is a security that pays no interest, and is therefore bought at a substantial discount from its face value. If the interest rate is 5% with annual compounding how much would you pay today for a zerocoupon bond with a face value of $1,900 that matures in 8 years? Please round your answer to the nearest hundredth

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