Question
Assume a par value of $1,000. Caspian Sea plans to issue a 17.00 year, semi-annual pay bond that has a coupon rate of 8.17%. If
Assume a par value of $1,000. Caspian Sea plans to issue a 17.00 year, semi-annual pay bond that has a coupon rate of 8.17%. If the yield to maturity for the bond is 7.87%, what will the price of the bond be?
Please Round to 2 decimals and show work on a financial calculator
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