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23. The price (per $100 face value) of a 7% semi-annual pay bond with exactly...

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Finance

23. The price (per $100 face value) of a 7% semi-annual pay bond with exactly 2.5 years to maturity and a yield to maturity of 8.75% is:

(a) 93.4381

(b) 96.9111

(c) 96.1454

(d) none of the above

Please make sure to show me all the steps!

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