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A Bond With 16 Years To Maturity And A Semiannual Coupon Rate Of 5 20 Percent Has A Current Yield Of 5 47 Percent

Question

A bond with 16 years to maturity and a semiannual coupon rate of 5.20 percent has a current yield of 5.47 percent.

The bond’s par value is $2,000. What is the bond’s price?

Multiple Choice

Finance