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QUESTION
A government bond with a face value of $1,000 was issued eight years ago and there are twelve years remaining until maturity.
A government bond with a face value of $1,000 was issued eight years ago and there are twelve years remaining until maturity. The bond pays annual coupon payments of $90, the coupon rate is 9% pa and rates in the marketplace are 9.5% p.a. What is the value of the bond today?
