Question: Assume that a $1,000,000 par value, semiannual coupon U.S. Treasury note with five years to maturity (YTM) has a coupon rate of 5% the yield

Assume that a $1,000,000 par value, semiannual U.S. Treasury note with five years to (YTM) has a rate of 5% the yield to of the bond is 7.70%. Using this information and ignoring the other costs involved, calculate the value of the Treasury note.

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