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ABC Inc' bonds have a 7-year maturity, a 3.78% coupon rate compounded semiannually, and a...

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Finance

ABC Inc' bonds have a 7-year maturity, a 3.78% coupon rate compounded semiannually, and a par value of $1,000. The current market interest rate (r _{d = YTM}) is 7.42%, based on semiannual compounding.

What is the bond's price?

Please round your answer to the second decimal without dollar sign. For example, 1234.12.

Answer & Explanation Solved by verified expert

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