Finance Help please!

timer Asked: Jun 12th, 2015

Question description

Wolfgang is interested in purchasing a bond that has just had it's interest anniversary. The face value of the bond is $5874 and it has a semi-annual coupon of 6.4%. There are 26 payments remaining until maturity. Wolfgang wants to earn a yield of 10.8% compounded semi-annually on this transaction. What should the quoted price of the bond be in order to fulfill this expectation.

Give a numeric answer to two decimal places. (12.34)

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