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Problem: Use the PV function in Excel to give the value of a bond that has a 6% semiannual coupon rate on a face value

Problem:

Use the PV function in Excel to give the value of a bond that has a 6% semiannual coupon rate on a face value of $1,000, if it has a yield to maturity of 5% and exactly 7 years left to maturity.

Question:

What is the dollar ($) value of the bond?

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