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QUESTION
Jill is interested in a 7-year bond which pays a coupon of 6.6 percent annually and trades at a yield of 4.3% per annum. The face value is $1,000.
Jill is interested in a 7-year bond which pays a coupon of 6.6 percent annually and trades at a yield of 4.3% per annum. The face value is $1,000. What is the current price of this bond? (to the nearest cent)
