(Answered) What is an estimate of the price of aaa-rated bond that has

Finance

What is an estimate of the price of AAA-rated bond that has nine years till maturity, a face value of 1000 dollars, and an APR coupon rate of 18 percent? Assume that the coupon payments are made semi-annually (at the end of each 6 months), and that the current market interest rate for AAA-rated, 9-year maturity bonds is 10 percent APR compounded semi-annually. Show your work.

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