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Problem 1: Calculate the value of a non-callable 15-year bond with a face value of $1,000 and a coupon rate of 8% compounded semi-annually if you expect 8% yield on the bond.
Group of answer choices
Option 1: $1,588
Option 2: $2,081
Option 3: $1,000
Option 4: $1,224
Option 5: $1,260
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