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What is the price of a $1,000 par value bond that has 20 years to...

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Finance

What is the price of a $1,000 par value bond that has 20 years to maturity if it has a 9% annual coupon rate paid semiannually and the yield to maturity is 8%

a. $1214

b. $1257

c. $1167

d. $1277

e. $1099

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