The interest rate on comparable bonds

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A) You purchased a $1,000 corporate bond earning 6% three years ago. The interest rate on comparable bonds is now 3%. Can you sell your bond for the same price, a higher price or a lower price? Please explain why

B) Your $1,000 bond from question #2 is paying you 6%. How much interest do you receive each year?

Reference no: EM131331082

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