Question: 3 . Suppose that a bond has a face value of $ 1 , 0 0 0 and a YTM of 8 % per annum.

3. Suppose that a bond has a face value of $1,000 and a YTM of 8% per annum. If the bond pays monthly coupons with an annual coupon rate of 9.6%, what will be the current price of the bond? The bond will mature in 5 years.

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