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Question 28 28. This morning, Mary bought a ten-year, $1000...

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Finance

Question 28

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28. This morning, Mary bought a ten-year, $1000 par value bond with an 8.25% coupon rate and semi-annual payments. She paid $1082.62 for the bond. If the market interest rate on this type of bond decreases to 6.98% tonight, how much will Mary receive for her first coupon payment

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