(Answered) What is the dollar price of the bond

Management Studies

Problem: Yan Yan Corp. has a $4,000 par value bond outstanding with a coupon rate of 5.3 percent paid semiannually and 13 years to maturity. The yield to maturity of the bond is 4.7 percent.

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Question: What is the dollar price of the bond? Please explain your answer and also provide examples.

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