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What is the price you should pay for the following semi-annual coupon bond (i.e. it makes interest payments every six months and is therefore compounding
What is the price you should pay for the following semi-annual coupon bond (i.e. it makes interest payments every six months and is therefore compounding every six months)? It has an annual coupon rate of 5.5%, it matures in 15 years, and it has a face value of $1,000. Your (effective rate) required rate of return is 7.29%. Enter value to the nearest penny.
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