What is the present value of the bond rounded

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Bond Validation. Semiannual interest. Find the value of a bond maturing in 8yrs., with a $1,000 par value, and a coupon interest rate of 9% (4.5% paid semiannually) if the required return on similar risk bonds is 17% annual interest (8.5% paid semiannually).

What is the present value of the bond rounded to the nearest cent?

 

Reference no: EM13303796

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