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Even though most corporate bonds in the United States make coupon payments semiannually, bonds issued elsewhere often have annual coupon payments. Suppose a German company

Even though most corporate bonds in the United States make coupon payments

semiannually, bonds issued elsewhere often have annual coupon payments. Suppose a

German company issues a bond with a par value of 1,000, 23 years to maturity, and a

coupon rate of 5.8 percent paid annually. If the yield to maturity is 4.7 percent, what is the excel formula for the price of the bond in EUROS?

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