1. 11. Valuing bonds [LO 7.2] Thirroul Surf Club has a bond outstanding with a coupon rate...

Question:

1. 11.

Valuing bonds [LO 7.2] Thirroul Surf Club has a bond outstanding with a coupon rate of 2.8 per cent paid semiannually and 16 years to maturity. The yield to maturity on this bond is 3.4 per cent, and the bond has a face value of $5 000. What is the price of the bond?

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