Two bonds have par values of​ $1,000. One is a 6​%, 20​-year bond priced to yield 8.0​%. The other is​ a(n) 8.5​%, 22​-y

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answerhappygod
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Two bonds have par values of​ $1,000. One is a 6​%, 20​-year bond priced to yield 8.0​%. The other is​ a(n) 8.5​%, 22​-y

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Two bonds have par values of​ $1,000. One is a 6​%, 20​-yearbond priced to yield 8.0​%. The other is​ a(n) 8.5​%, 22​-year bondpriced to yield 4.5​%. Which of these two has the lower​ price?(Assume annual compounding in both​ cases.)
The​ price, PV​, of the ​6%, ​20-year bond is ​$
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