Where the coupon payments on your bond will be made

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Reference no: EM131065605

Assume, on the 29th of September, 20 IB, you buy a perpetual 12% coupon bond and set up a banking account where the coupon payments on your bond will be made. Every 28th of September, after receiving each coupon payment you withdraw USD 70 from that account. As soon as your account accrues USD 1000 you want to close it. When will it happen?

Reference no: EM131065605

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