Question: Calculate the value of a bond that matures in 10 years and has a $1,000 par value. The annual coupon interest rate is 9 percent

Calculate the value of a bond that matures in 10 years and has a $1,000 par value. The annual coupon interest rate is 9 percent and the market’s required yield to maturity on a comparable-risk bond is 15 percent. What would be the value of this bond if it paid interest semiannually?

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