Question: A 1 0 0 0 0 par value bond with coupons of size 4 0 0 paid at the end of every 6 - month

A 10000 par value bond with coupons of size 400 paid at the end of every 6-month period is being
sold 3 years and 4 months prior to maturity. Find the market price (clean price) at the time of sale if the bond redeems at par and was priced to yield a nominal annual rate of 10% compounded semiannually. Give your answer rounded to the
nearest whole number (i.e. X).

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