Bonds make semiannual payments

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Harrison Co. issued 16-year bonds one year ago at a coupon rate of 7.2 percent. The bonds make semiannual payments.

If the YTM on these bonds is 5.5 percent, what is the current dollar price assuming a $1,000 par value?

Reference no: EM131238268

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Bonds make semiannual payments : Harrison Co. issued 16-year bonds one year ago at a coupon rate of 7.2 percent. The bonds make semiannual payments. If the YTM on these bonds is 5.5 percent, what is the current dollar price assuming a $1,000 par value?
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