Question: Suppose that the current time is March 16, 2021 (t = 0). Suppose that the risk-free term structure is flat at 1.2% APR compounded semi-annually.

Suppose that the current time is March 16, 2021 (t = 0). Suppose that the risk-free term structure is flat at 1.2% APR compounded semi-annually. 


Find PV of a Treasury note that's maturing in March 2026 with 3% annual coupons paid annually.

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