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You have just been offered a R1 000 par value bond for R958,25. The coupon rate...
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You have just been offered a R1 000 par value bond for R958,25. The coupon rate is 8%, payable annually, and the interest rate on new issues of the same degree of risk is 9%. You want to know how many more interest payments you will receive, but the party selling the bond cannot remember. Can you determine how many interest payments remain?
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