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Bill Bailey would like to purchase bonds from DON Corporation. The $1,000 bonds have a quoted annual interest rate of 10 percent, and the interest
Bill Bailey would like to purchase bonds from DON Corporation. The $1,000 bonds have a quoted annual interest rate of 10 percent, and the interest is paid semiannually. The yield to maturity on the bonds is 11 percent annually. There are 13 years to maturity. Compute the price of the bonds. (Use a Financial calculator or Excel to arrive at the answers. Do not round intermediate calculation. Round the final answer to 2 decimal places. Omit $ sign in your response.) Price of the bonds
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