You own a bond that you bought two years ago. It was originally a $1000 par value, 10 year bond paying interest annually with a 5% coupon. Due to actions of the Fed over the last couple of years, interest rates have dropped, and rates on comparable debt now are 4%. What is the market value of your bond currently?

Remember that you already held the bond for two years.

Remember that you already held the bond for two years.

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