Question you find a zero coupon bond with a par value of, Ask an Expert

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Question: You find a zero coupon bond with a par value of $10,000 and 18 years to maturity. If the yield to maturity on this bond is 3.96 percent, what is the price of the bond? Assume semiannual compounding periods.

Omit $ dollar sign and commas in your response. Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16).

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