A bond has a coupon rate of 6.4 and pas coupons semi-annually. The bond matures in 10 years and you will receive $1,000 at that time. If the required return is 6.69%, how much should you be willing to pay for the bond today? Round to 2 decimal places. Include a dollar sign ($) or percent (%) as appropriate. Answer:

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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A bond has a coupon rate of 6.4 and pas coupons semi-annually.  The bond matures in 10 years and you will receive $1,000 at that time. If the required return is 6.69%, how much should you be willing to pay for the bond today?  Round to 2 decimal places.  Include a dollar sign ($) or percent (%) as appropriate.

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