A 3-year bond has a par value of 1000 and a coupon rate of
A 3-year bond has a par value of $1,000 and a coupon rate of 5 percent. The prevailing annualized yield on other bonds with similar characteristics is 7 percent. What is the appropriate market price of the bond?
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a 3-year bond has a par value of 1000 and a coupon rate of 5 percent the prevailing annualized yield on other bonds
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