Question: How do I work this problem? A 5-year treasury note has a coupon rate of 2.50 percent. What price would you pay for such a

How do I work this problem? A 5-year treasury note has a coupon rate of 2.50 percent. What price would you pay for such a security having a principal (par value) of $1 million if the current interest rate is 2.25 percent? The current interest rate is 3 percent? (To simplify calculations, assume that the payments are made once per year, starting a year from now).

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