Question: A company issues 10 bond certificates with a face value of $5000 each that mature in 12 years. Interest on the bonds is 7.5% payable

A company issues 10 bond certificates with a face value of $5000 each that mature in 12 years. Interest on the bonds is 7.5% payable semi-annually. What is the issue price of the bonds if the bonds are sold to yield 6.5% compounded semi-annually?

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