Question: A 2 0 - year 7 . 8 % coupon $ 1 0 0 0 - par bond has a YTM of 9 % .

A 20-year 7.8% coupon $1000-par bond has a YTM of 9%. What is the bond's price?
A 20-year 7.8% coupon $1000-par bond has a YTM of 9%.

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