A 1000 par-value fixed coupon bond has 17 years remaining, Financial Management

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A 1000 par-value fixed coupon bond has 17 years remaining

A $1,000 par-value, fixed coupon bond has 17 years remaining until maturity. The bond has an annual coupon rate of 8 percent and it pays semi-annual coupon payments. If the market annual rate for this bond is 7.25 percent, what is the price of the bond?

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Financial Management: A 1000 par-value fixed coupon bond has 17 years remaining

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Financial Management: A 1000 par-value fixed coupon bond has 17 years remaining

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