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Union Local School District has bonds outstanding with a coupon rate of 2.8 percent paid semiannually and 25 years to maturity. The yield to maturity
Union Local School District has bonds outstanding with a coupon rate of 2.8 percent paid semiannually and 25 years to maturity. The yield to maturity on these bonds is 3.3 percent and the bonds have a par value of $5,000. What is the price of the bonds?
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