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The $1,000,000 10-year Australian government bond pays a coupon of 3.25%p.a. with semi-annual payments. It is currently trading at a yield of 2.28%, with semi-compounding.

The $1,000,000 10-year Australian government bond pays a coupon of 3.25%p.a. with semi-annual payments. It is currently trading at a yield of 2.28%, with semi-compounding. What is its price?

Group of answer choices

$1,085,868

1,083,980

$1,084,332

None of the other answers is correct

1,083,198

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