A bond offers a coupon rate of 7%, paid annually, and has a maturity of...
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Finance
A bond offers a coupon rate of 7%, paid annually, and has a maturity of 8 years. The current market yield is 10%. Face value is $1,000. If market conditions remain unchanged, what should the price of the bond be in 1 year? Assume the market yield remains unchanged.
Enter your answer in dollars, without the dollar sign ('$'), and rounded to the nearest cent (2 decimals).
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