FINANCE-A 6 year bond that pays 8% interest semiannually sells at par(1000)
QUESTION
A 6 year bond that pays 8% interest semiannually sells at par(1000). Another 6 year bond of equal risk pays 8 percent interest annually. Both bonds are non callable and have face values of $1,000. What is the price of the bond that pays annual interest.?
ANSWER:
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