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Hello Sir,
I would really appreciate if you could help me with this.
Could you show me the steps in calculating market value of the bond in this question?
A bond has a coupon rate of 7%. It will repay its face value of $1000 at the end of six years. The market expects this type of bond to have a yield to maturity of 10%. Calculate the current market value for the bond.
Thank you!
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