BankMart Inc. recently issued bonds that mature in 11 years. They have a par value of $1,000 and an annual coupon of 5%. The current market interest rate is 7%. What is the bond's value?
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BankMart Inc. recently issued bonds that mature in 11 years. They have a par value of $1,000 and an annual coupon of 5%. The current market interest rate is 7%. What is the bond's value?
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