How much should he be able to sell the bond for today

Reference no: EM132138906

Question: Dean bought a $26,000 bond that has interest rate of 8% per year payable semiannually, 3 years ago. The bond has a maturity date of 12 years from the date it was issued. How much should he be able to sell the bond for today, if the current market interest rate is 10% per year, compounded semiannually?

Reference no: EM132138906

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