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  3. the yield to maturity of a $1,000 bond with a 7.1%

The yield to maturity of a $1,000 bond with a 7.1% coupon rate, semiannual coupons,...

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Finance

The yield to maturity of a $1,000 bond with a 7.1% coupon rate, semiannual coupons, and two years to maturity is 7.9% APR, compounded semiannually. What is its price?

Part 1

The price of the bond is

$enter your response here.

(Round to the nearest cent.)

Answer & Explanation Solved by verified expert
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