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What is the price of a $1,000 par value bond selling for that matures in...

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Finance

What is the price of a $1,000 par value bond selling for that matures in 6 years and pays 12 percent interest annually? The yield to maturity on similar bonds is 11% annually.

$1,042

$1,021

$1,056

$959

Answer & Explanation Solved by verified expert
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