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Suppose that General Motors Acceptance Corporation issued a bond with 10 years until maturity, a face value of $ 1000?, and a coupon rate of 7.7 % (annual payments). The yield to maturity on this bond when it was issued was 5.9 %. What was the price of this bond when it was issued.

When it was issued, the price of the bond was (Round to the nearest cent.)

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Financial Management, Finance

Category:- Financial Management
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