Question
Apple Ltd is issuing a 8-year zero coupon $1000 bond that has an annual yield of 11.1%. Assuming semi-annual compounding, what is the current price
Apple Ltd is issuing a 8-year zero coupon $1000 bond that has an annual yield of 11.1%. Assuming semi-annual compounding, what is the current price of the bond? Please round your answer to two decimal places (i.e. 470.02) but exclude the $ sign when typing your answer.)
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