Question: A $ 1 0 0 , 0 0 0 bond was issued on September 1 2 0 1 5 with a 5 year maturity. Coupon

A $100,000 bond was issued on September 12015 with a 5 year maturity. Coupon rate is 8% and the YTM is 14% p.a. compounded half-yearly. Interest is paid semi-annually. How much is the bond worth on 1 March 2016? Please write the answer in two decimal places.

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