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A 5-year U.S. Treasury bond with a face value of $10,000 pays a coupon of 6.00% (3.000% of face value every six months). The semiannually
A 5-year U.S. Treasury bond with a face value of $10,000 pays a coupon of 6.00% (3.000% of face value every six months). The semiannually compounded interest rate is 5.6% (a six-month discount rate of 5.6/2 = 2.8%). What is the present value of the bond? (Do not round intermediate calculations. Round your answer to 2 decimal places.) |
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