You purchase 4,000 bonds with a par value of $1,000 for $978 each. The bonds have a

Question:

You purchase 4,000 bonds with a par value of $1,000 for $978 each. The bonds have a coupon rate of 7.7 percent paid semiannually and mature in 10 years. How much will you receive on the next coupon date? How much will you receive when the bonds mature?

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