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Moody Corporations bonds have a 15 year maturity , a 7.25% coupon paid semiannually, and a par value of $1,000. If the going market interest
Moody Corporations bonds have a 15 year maturity , a 7.25% coupon paid semiannually, and a par value of $1,000. If the going market interest rate for bonds of similar risk maturity is 5.55%. (based on semiannual compounding) What is the bonds price? Round your answer 2 decimal places.
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