A bond will pay $5,000 at maturity in 9 years. It also makes semiannua
A bond will pay $5,000 at maturity in 9 years. It also makes semiannual interest payments of $400 until
maturity. If the discount rate is 7% compounded semiannually, what should be the market price of the bond?
What will be an ideal response?
ANSWER
$7,967.68
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