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How to do by formula and calculator Assume that you are considering the purchase of a 15-year bond with an annual coupon rate of 9

image text in transcribedHow to do by formula and calculator
Assume that you are considering the purchase of a 15-year bond with an annual coupon rate of 9 5% The bond has face value of $1,000 and makes semiannual interest payments. If you are requiring an 11.0% nominal yield to maturity on this investment, what is the maximum price you should be willing to pay for the bond? $891.00 $913.27 $936.10 $959.51

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