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A school issued bonds to fund the construction of the residence halls. The 15-year bonds have a yield of 4.84% and a coupon rate of
A school issued bonds to fund the construction of the residence halls. The 15-year bonds have a yield of 4.84% and a coupon rate of 5.16%. The bond pays coupons semi-annually. What should the bond's price be today?
(Please do write formulation, do not do it by excel) Thank you
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