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What is the price of a 16-year bond paying an annual coupon rate of 8.4%, but paying it semiannually, per face (par) value of $1,000
What is the price of a 16-year bond paying an annual coupon rate of 8.4%, but paying it semiannually, per face (par) value of $1,000 if the annual market rates for these bonds are 11.9%? Answer to the nearest cent, xxx.xx and enter without the dollar sign
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