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Consider a security with a face value of $100 000 to be repaid at maturity. The maturity of the security is 3 years. The coupon rate is 9 per cent p.a. and coupon payments are made semi-annually. The current discount rate is 12 per cent p.a. What is the security's price (round your answer to two decimals) ?
Nonmaterial Social Facts
Aspects of social life that exist beyond the physical, including beliefs, values, norms, and social norms that influence human behavior.
Collective Consciousness
The set of shared beliefs, ideas, and moral attitudes which operate as a unifying force within society.
Collective Conscious
A collection of common beliefs, thoughts, and ethical views that act as a cohesive element in society.
Mechanical Societies
Sociological concept referring to traditional, pre-industrial societies where social cohesion and integration come from a homogeneity of individuals, as opposed to the interdependence of differentiated roles.
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