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What will the price be 5 years from now

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Reference no: EM132890352

A 20-year, $1,000 par value bond has an 6.5% annual payment coupon. The bond currently sells for $950.

If the yield to maturity remains at its current rate, what will the price be 5 years from now?

Please explain how you got that answer.

Reference no: EM132890352

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