You are considering a 20-year, $1,000 par value bond. Its coupon rate is 11%,

label Business & Finance
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schedule 1 Day
account_balance_wallet $5

 and interest is paid semiannually. If you require an "effective" annual interest rate (not a nominal rate) of 8.47%, how much should you be willing to pay for the bond? Do not round intermediate steps. Round your answer to the nearest cent.

Apr 26th, 2015
Bond.xlsx

$662.92. See attached. Please favorite answer if satisfied.


Apr 26th, 2015

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Apr 26th, 2015
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