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What is the present value of this bond

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Question - A four year bond with a face value of $1,000 pays $150 in interest at the end of years one, two, and three. The bond will pay $1,150 at the end of the fourth year, when it matures. If the interest rate remains constant at 7%, what is the present value of this bond? Enter your answer rounded to the nearest penny.

Reference no: EM131813353

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