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A municipal bond with a coupon rate of 2.5 percent has a yield to maturity of 3.5 percent. Assume a face value of $5,000. If the bond has 20 years to maturity, what is the price of the bond? (Do not round intermediate calculations. Round your answer to 2 decimal places. Omit the "$" sign in your response.)

Price of the bond $

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Financial Management, Finance

Category:- Financial Management
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