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What is the price of a bond

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Question - The Florida Investment Fund buys 72 bonds of the Gator Corporation through a broker. The bonds pay 9 percent annual interest. The yield to maturity (market rate of interest) is 10 percent. The bonds have a 25-year maturity. Use Appendix B and Appendix D for an approximate answer but calculate your final answer using the formula and financial calculator methods.

Using an assumption of semiannual interest payments

What is the price of a bond?

What is the total value of the 72 bonds?

Reference no: EM132186700

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