Question
The yield to maturity of a $ 1,000 bond with a 7.4 % couponrate, semiannualcoupons, and two years to maturity is 7.8% APR, compounded semiannually.
The yield to maturity of a $ 1,000 bond with a 7.4% couponrate, semiannualcoupons, and two years to maturity is 7.8% APR, compounded semiannually. What is its price?
The price of the bond is $___ (Round to the nearest cent)
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Business Mathematics
Authors: Gary Clendenen, Stanley A Salzman, Charles D Miller
12th Edition
0135109787, 9780135109786
