Question: A $5,000, 4.5% bond with interest payable semi-annually matures in 12 years. What is the bond's purchase price to yield 3%, compounded semi-annually? (Round

A $5,000, 4.5% bond with interest payable semi-annually matures in 12 years. What is the bond's purchase price to yield 3%, compounded semi-annually? (Round the final answer to 2 decimals).

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