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Given the following information on a bond, Par value $1,000 Interest rate 6% Coupon rate 8% paid semi annually Years to Maturity 15 years What
Given the following information on a bond,
Par value $1,000
Interest rate 6%
Coupon rate 8% paid semi annually
Years to Maturity 15 years
What is the expected price at the end of the year?
Answer is 1148.77, but I need help understanding how to get there.
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