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What is the cash interest payment on this bond

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Reference no: EM132747297

Question - A bond that pays interest annually has a par value of $1 million and matures in 15 years. The coupon rate is 5%, and the bond is issued at a price of $902,878 to yield 6%. What is the cash interest payment on this bond for the SECOND year of its life?

Reference no: EM132747297

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