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Duke Energy has recently issued a bond with the following characteristics: maturity: 20 years, coupon rate: 7% (paid semi-annually), face value: $1000. Your investment advisor
Duke Energy has recently issued a bond with the following characteristics: maturity: 20 years, coupon rate: 7% (paid semi-annually), face value: $1000. Your investment advisor has told you that the yield-to-maturity on this bond is 7.5%. What should be the price of this bond?
Please show how you did this with out a financial calc!
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