Semiannual-interest-payment bonds to sell

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Jagdterrier Jams and Jellies, Inc. issued $1 billion worth of 25-year bonds six years ago. Each bond has a $1,000 par value (it sold initially for $1,000 and will return $1,000 at maturity) and a 6.8% annual coupon interest rate, but with interest paid every six months - so be sure to compute semiannually, and include enough decimal places for accuracy! If the expected yield to maturity is 6.5024%, then at what price would we expect each of these semiannual-interest-payment bonds to sell?

Reference no: EM132031198

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