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A zero coupon bond with a face value of $1,000 is issued with an initial price of $450.50. The bond matures in 17 years. What is the implicit interest, in dollars, for the first year of the bond's life? Use semiannual compounding.

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A zero coupon bond with a face value of $1,000 is issued with an initial price of $450.50. The bond...

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