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STRIPS bond-calculate the time to maturity

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Suppose you want to buy a STRIPS bond where you wish to purchase the final $1,000 face value of a Treasury bond. It currently sells for $682.4. If it pays semi annually and has a yield of 6%, calculate the time to maturity (in years).

12.93 years

6.56 years

6.46 years

13.12 years

None of the above

Reference no: EM13804379

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