Last year, Charu bought a bond for $10,000 that promises to pay her $ 1,000 a year. This year, investors can buy a bond for $10,000 that promises to pay $800 a year. If Charu wants to sell her old bond, what is its price likely to be?
Economics (MindTap Course List)
Economics (MindTap Course List)
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Last year, Charu bought a bond for $10,000 that promises to pay her $ 1,000 a year. This year, investors can buy a bond for $10,000 that promises to pay $800 a year. If Charu wants to sell her old bond, what is its price likely to be?
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