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In February 2015 Treasury 3 3/4s of 2036 offered a semiannually compounded yield to maturity of 2.96%. Recognizing that coupons are paid semiannually, calculate the

In February 2015 Treasury 3 3/4s of 2036 offered a semiannually compounded yield to maturity of 2.96%. Recognizing that coupons are paid semiannually, calculate the bond's price. Assume face value is $1,000.

Bond price

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