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Zero coupon bonds: 10-year zero coupon bonds issued by the Queensland Treasury have a face value of $1000 and interest is compounded semiannually

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Zero coupon bonds: 10-year zero coupon bonds issued by the Queensland Treasury

have a face value of $1000 and interest is compounded semiannually. If similar bonds in

the market yield 11.32 percent, what is the value of these bonds?