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2 1 . Heather Smith is considering a bond investment in Locklear Airlines. The $ 1 , 0 0 0 par value bonds have a
Heather Smith is considering a bond investment in Locklear Airlines. The $ par value bonds have a quoted annual interest rate of percent and the interest is paid semiannually. The yield to maturity on the bonds is percent annual interest. There are seven years to maturity. Compute the price of the bonds based on semiannual analysis.
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