Makes semiannual interest payments

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Assume that you are considering the purchase of a 15-year, non-callable bond with an annual coupon rate of 6.30%. The bond has a face value of $1000, and it makes semiannual interest payments. If you require a 10.50% yield to maturity on this investment, what is the maximum price you should be willing to pay for the bond? Please dont post to this question if you dont get ($686.18) as an answer. please show work

Reference no: EM131308578

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Makes semiannual interest payments : Assume that you are considering the purchase of a 15-year, non-callable bond with an annual coupon rate of 6.30%. The bond has a face value of $1000, and it makes semiannual interest payments. If you require a 10.50% yield to maturity on this investm..

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