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Two years ago you bought a Commonwealth Government bond for $1,000 because you liked the 10%...

Two years ago you bought a Commonwealth Government bond for $1,000 because you liked the 10% p.a. coupon interest payment that you would receive for 10 years. Interest on the bond is paid annually. Two years later when the market interest rate has fallen to 8% p.a. what is the value of your Commonwealth Government bond?

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