Question: Five years ago, you purchased a $ 1 , 0 0 0 par value corporate bond with an interest rate of 6 percent. Today, comparable

Five years ago, you purchased a $1,000 par value corporate bond with an interest rate of 6 percent. Today, comparable bonds are paying 6.5 percent.
What is the approximate dollar price for which you could sell your bond? (Do not round intermediate calculations. Round your answer to 2 decimal places.)
Approximate market value
Five years ago, you purchased a $1,000 par value corporate bond

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