Question
**** Union Local School District has bonds outstanding with a coupon rate of 3.5 percent paid semiannually and 13 years to maturity. The yield to
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Union Local School District has bonds outstanding with a coupon rate of 3.5 percent paid semiannually and 13 years to maturity. The yield to maturity on these bonds is 2.5 percent and the bonds have a par value of $10,000.What is the price of the bonds?(Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
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Multinational financial management
Authors: Alan c. Shapiro
10th edition
9781118801161, 1118572386, 1118801164, 978-1118572382
