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24-05-2023
Business

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A 15 year, $1,000 face-value bond pays an 8.25% SEMI-ANNUAL coupon and has a YTM of 10%.
Calculate the bond's price
Note: Both the Coupon Rate and the YTM are quoted at twice the periodic rate (Always! Always! Always!) A. $850
B. $865
C. $950
D. $1,000
E. $1,200

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