Assume semi-annual coupons and compounding

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You bought a bond for the financially questionable NII Capital Corp. last year. It had an 8.5% coupon and, at purchase, had 8 years until maturity. After holding the bond one year, you needed to sell it. When you went to sell, NII Capital had returned to more solid financial footing so that the interest rates had fallen to 14% APR. Assume semi-annual coupons and compounding.

At what price did you sell the bond?

Reference no: EM132288795

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