What is the implicit interest in dollars

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Question

A zero coupon bond with a face value of $1,000 is issued with an initial price of $635.66. The bond matures in 21 years. What is the implicit interest, in dollars, for the first year of the bond's life? Use semiannual compounding.

The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.

Reference no: EM132064918

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