You intend to purchase a 15-year 1000 face value bond that, Ask an Expert

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You intend to purchase a 15-year, $1,000 face value bond that pays interest of $55 every 6 months.

If your nominal annual required rate of return is 12.0 percent with semiannual compounding, how much should you be willing to pay for this bond?

What is the bond value? Please show detail of work so I can follow and understand.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92766688

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