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What will be the price of the bond now

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Reference no: EM131865820

You buy a $1,000 face value bond. It currently has a yield to maturity of 6.69 percent. The bond matures in three years and pays interest annually. The coupon rate is 7 percent = $1008.18. One year past, and you received a coupon payment. The market interest rate(YTM) changed into 6%. What will be the price of the bond now?

Reference no: EM131865820

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