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Two years ago bonds were issued with 10 years until maturity, selling at par, and a 7% coupon. If interest rates for that grade of bond are currently 8.25%, what will be the market price of these bonds?

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Two years ago bonds were issued with 10 years until maturity, selling at par, and a 7% coupon. If interest rates for that ...

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This solution is comprised of a detailed explanation to answer what will be the market price of these bonds.

$2.19