#8 Assume a par value of $1,000. Caspian Sea plans to issue a 11.00 year, semi-annual pay...
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#8
Assume a par value of $1,000. Caspian Sea plans to issue a 11.00 year, semi-annual pay bond that has a coupon rate of 7.87%. If the yield to maturity for the bond is 8.45%, what will the price of the bond be?
Answer format:Currency: Round to: 2 decimal places.
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