Question: 3. A $1,000 par value bond is issued with a 6 percent coupon rate and a 5-year maturity. If the bond is priced to yield

3. A $1,000 par value bond is issued with a 6 percent coupon rate and a 5-year maturity. If the bond is priced to yield 7.75 percent per year, what is its price? Assume semi-annual coupon payments

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