Question
A 6.9% bond has a maturity of 13 years. The par value of the bond is $1,000. If the yield to maturity is 10.2% and
A 6.9% bond has a maturity of 13 years. The par value of the bond is $1,000. If the yield to maturity is 10.2% and the interest payments are made semi-annually, then what is the current price of the bond?
Enter your answer rounded off to two decimal points.
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Personal Finance
Authors: Jeff Madura
7th Edition
0134989961, 978-0134989969
