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What is the flat price of the bond on the settlement date

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A corporate bond with a coupon rate of 7% pays interest semiannually and has a maturity date of August 1, 2024. The purchasing trade settles on Nov. 19, 2020. The yield to maturity is 4%.

1) What is the flat (or clean) price of the bond (in percent of par) on the settlement date? Use Excel's PRICE() function. Dates must be entered with Excel's DATE() function.

Reference no: EM132674580

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