A $1000, 6.5% coupon bond has 13 years remaining until maturity. Calculate the bond premium if

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A $1000, 6.5% coupon bond has 13 ½ years remaining until maturity. Calculate the bond premium if the required return in the bond market is 5.5% compounded semiannually.
Coupon
A coupon or coupon payment is the annual interest rate paid on a bond, expressed as a percentage of the face value and paid from issue date until maturity. Coupons are usually referred to in terms of the coupon rate (the sum of coupons paid in a...
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