Question: You are considering a 5 - year, $ 1 0 0 0 par value bond. Its coupon rate is 4 . 6 % , and

You are considering a 5-year, $1000 par value bond. Its coupon rate is 4.6%, and is paid 12 times a year. If you require an \"effective\" annual interest rate (not a nominal rate) of 4.6%, how much are you willing to pay for the bond?

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