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tbowen1
Apr 25, 2008, 11:53 AM
each bond has a face value of $1000, pays interest once per yr and has 5yrs left for maturity. Presently the bonds are trading n the market with a yield to maturity of 12.0. What will the market price of the bond be?

Given the question i dont understand if Im being asked to calculate for the present of future.