A 10-year U
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A 10-year U.S. Treasury bond with a face value of $10,000 pays a coupon of 5.5%, (2.75% of face value every six months). The semiannually compounded interest rate is 5.2% (a six-month discount rate of 5.2/2 = 2.6%). What is the present value of the bond? (5 marks)
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