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Heather Smith is considering a bond investment in Locklear Airlines. The $ 1 , 0 0 0 par value bonds have a quoted annual interest
Heather Smith is considering a bond investment in Locklear Airlines. The $ par value bonds have a quoted annual interest rate of percent and the interest is paid semiannually. The yield to maturity on the bonds is percent annual interest. There are years to maturity.
Compute the price of the bonds based on semiannual analysis. Use Appendix B and Appendix D for an approximate answer but calculate your final answer using the formula and financial calculator methods. Note: Do not round intermediate calculations. Round your final answer to decimal places.
Bond price
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