You have just been offered a bond for 85953 if the par, Financial Management

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You have just been offered a bond for 85953 if the par

you have just been offered a bond for $859.53. The coupon rate is 5 percent payable annually, and the yield to maturity on the new issues with the same degree of risk is 7 percent. You want to know how many more interest payments you will recieve, but the party selling the bond cannot remember. If the par value is $1000, how many interest payments remain? Remaining number of interest payments is _____ years.

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