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(Bonds) What is the price of a bond (to the nearest cent) with 24 years to...

(Bonds) What is the price of a bond (to the nearest cent) with 24 years to maturity, 6.6% coupon rate, semiannual payments, par of $1000, and the yield to maturity of 4.01%?

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Expert Solution

Par value $                        1,000.00
Coupon rate 6.60%
Coupon payment per period $                              33.00
YTM 4.01%
Years to maturity                                         24
Price $                        1,396.81

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jeff jeffy answered 2 years ago
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