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A $2,000,000 bond was issued on September 15 2015 with a 5 year maturity. Coupon rate is 5.5% and the present YTM is 5.75% p.a.

A $2,000,000 bond was issued on September 15 2015 with a 5 year maturity. Coupon rate is 5.5% and the present YTM is 5.75% p.a. compounded half-yearly. Interest is paid semi annually. How much is the bond worth on 15 March 2018?

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