Assume that you wish to purchase a bond with a 30-year, Ask an Expert

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Assume that you wish to purchase a bond with a 30-year maturity, an annual coupon rate of 10 percent, a face value of $1,000, and semiannual interest payments. If you require a 9 percent nominal yield to maturity on this investment, what is the maximum price you should be willing to pay for the bond? show work

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Financial Management, Finance

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