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Union Local School District has a bond outstanding with a coupon rate of 3.7% paid semiannually and 16 years to maturity.

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Union Local School District has a bond outstanding with a coupon rate of 3.7% paid semiannually and 16 years to maturity. The yield to maturity on this bond is 3.9% and the bond has a par value of $5,000. What is the price of the bond?


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The price of... View the full answer

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Bond Prive,PV=C[(1-(1+r) -n /r]+A(1+r) -n... View the full answer

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