Answer is complete but not entirely correct. Bond price 9,637.52X S

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
Section: Chapter Questions
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Union Local School District has a bond outstanding with a coupon rate of 3.3 percent
paid semiannually and 20 years to maturity. The yield to maturity on this bond is 3.7
percent, and the bond has a par value of $10,000. What is the dollar price of the bond?
(Do not round intermediate calculations and round your answer to 2 decimal places,
e.g., 32.16.)
Answer is complete but not entirely correct.
Bond price
9,637.52 x
$
Transcribed Image Text:Union Local School District has a bond outstanding with a coupon rate of 3.3 percent paid semiannually and 20 years to maturity. The yield to maturity on this bond is 3.7 percent, and the bond has a par value of $10,000. What is the dollar price of the bond? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Answer is complete but not entirely correct. Bond price 9,637.52 x $
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