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FMA Inc has issued a $1000 par value bond that matures in 14 years. The bond pays semi-annual coupons at a rate of 7.5% APR
FMA Inc has issued a $1000 par value bond that matures in 14 years. The bond pays semi-annual coupons at a rate of 7.5% APR compounded semi-annually, with first coupon payment due 6-months from today. What is the bond's price if the market requires a 9.5% yield to maturity on this bond?
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