What is John total profit achieved by this investment

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Question - A $700000 bond pays interest at j111 = 5% redeemable at 95 in 10 years. John buys the bond to yield j = 9% and strips the coupons to sell the remaining strip bond to Steven, who yields j = 6%. What is John's total profit achieved by this investment?

Reference no: EM132930888

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