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In February 2015 Treasury 3 3/4s of 2038 offered a semiannually compounded yield to maturity of 3.04%. Recognizing that coupons are paid semiannually, calculate the
In February 2015 Treasury 3 3/4s of 2038 offered a semiannually compounded yield to maturity of 3.04%. Recognizing that coupons are paid semiannually, calculate the bond's price. Assume face value is $1,000. (Do not round intermediate calculations. Round your answer to 2 decimal places.)
Bond price $
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