What is maximum price you should be willing to pay for bond

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Reference no: EM131861745

Assume that you are considering the purchase of a 15-year bond with a coupon rate of 10%. The bond has a par value of $1,000 and makes semiannual interest payments. If you require 12.0% nominal yield to maturity on this investment, what is the maximum price you should be willing to pay for the bond ?

Reference no: EM131861745

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