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Valuing bonds. Even though most corporate bonds in the United States make coupon payments semiannually, bonds issues elsewhere often have annual coupon payments . Suppose
Valuing bonds. Even though most corporate bonds in the United States make coupon payments semiannually, bonds issues elsewhere often have annual coupon payments . Suppose a German company issues a bond with a par value of 1,000, 23 years to maturity and a coupon rate of 3.8 % paid annually. If the yield to maturity is 4.7 % , what is the current price of the bond?
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