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The yield to maturity of a $1,000 bond with a 6.7% coupon rate, semiannual coupons, and two years to maturity is 8.4% APR, compounded semiannually.
The yield to maturity of a $1,000 bond with a 6.7% coupon rate, semiannual coupons, and two years to maturity is 8.4% APR, compounded semiannually. What is its price? The price of the bond is $ (Round to the nearest cent.)
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Financial Markets And Institutions
Authors: Jeff Madura
6th Edition
0324162618, 978-0324162615
