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A 11-year bond with a face value of 2000 dollars earns interest at 8.8 percent convertible semiannually. Suppose that the yield rate is 8 percent
A 11-year bond with a face value of 2000 dollars earns interest at 8.8 percent convertible semiannually. Suppose that the yield rate is 8 percent convertible semiannually, and that the book value immediately after the 13th coupon payment is 1940.04 dollars. What is the redemption value?
The answer I got was $1767.15, but I'm being told that's wrong, any help?
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