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QUESTION
A 5-year maturity treasury note has a yield to maturity of 3%. Its par value is $1,000, it makes semi-annual payments (twice per year), and its
A 5-year maturity treasury note has a yield to maturity of 3%. Its par value is $1,000, it makes semi-annual payments (twice per year), and its coupon rate is 4%. What is this bond's current price? The first coupon arrives in 6 months.
