How much money do you have if you hold bond to maturity

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Reference no: EM131878474

Consider an annual coupon bond with a face value of $100, 14 years to maturity, and a price of $89. The coupon rate on the bond is 3 %. If you can reinvest coupons at a rate of 4.5 % per annum, then how much money do you have if you hold the bond to maturity?

The total proceeds from holding the bond to maturity are $ ?. (Round to the nearest cent.)

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Reference no: EM131878474

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