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A corporation issued a $1,000 par value bond paying 3% interest with 15 years to maturity....

A corporation issued a $1,000 par value bond paying 3% interest with 15 years to maturity. Assume current yield to maturity on such bond is 3%. What is the price of the bond?

How much would you have to invest today in order to receive $10,000 in 5 years at an assumed 5% AP and quarterly compounding?

( Please Answer all the questions with work showing exactly how you got your answer. )

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