Five years ago you purchased a $1,000 U.S. Treasury bond for $920. At the time of purchase
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Five years ago you purchased a $1,000 U.S. Treasury bond for $920. At the time of purchase it had a 12- year remaining maturity and a 6% coupon (paid semiannually). Market interest rates have decreased 2% since then. What is the current market value of your bond?
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