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7-23 Compute Bond Price (LG7-4) Calculate the price of a 6.5 percent coupon bond with 16 years left to maturity and a market interest rate

7-23 Compute Bond Price (LG7-4) Calculate the price of a 6.5 percent coupon bond with 16 years left to maturity and a market interest rate of 5.4 percent. (Assume interest payments are semiannual.) (Do not round intermediate calculations. Round your final answer to 2 decimal places.) Is this a discount or premium bond? multiple choice discount bond premium bond

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