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QUESTION
You bought a $1,000 bond at a YTM of 10%. It has an 8% coupon that is paid semiannually and a 20-year maturity. The trade settled 2 days ago and the...
You bought a $1,000 bond at a YTM of 10%. It has an 8% coupon that is paid semiannually and a 20-year maturity. The trade settled 2 days ago and the most recent coupon payment occurred 52 days ago. What was the invoice price that you were required to pay?
