Bond in order to earn the desired return on investment

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Rachel wishes to sell a bond that has a face value of $1,000. The bond has a bond rate of 10% per year with bond premiums paid semi-annually. 2 years ago, she paid $900 for the bond. At least a 16%/year/6-month return on investment is desired what must be the minimum selling price for the bond in order to earn the desired return on investment?

Reference no: EM131854536

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