Question: A bond matures in 2 0 years, at which time it pays the owner $ 1 , 0 0 0 . It also pays $

A bond matures in 20 years, at which time it pays the owner $1,000. It also pays $70 at the end of each of the next 20 years. If similar bonds are currently yielding 8%, what is the market value of the bond?
over $1,000
under $1,000
exactly $1,000
cannot be determined from the information given
A bond matures in 20 years, at which time it pays

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