Question: A Php26289, 2%, 8-year-old bond pays dividend semiannually and will be redeemed at 114% (of the par value) at its maturity. The rate of interest

A Php26289, 2%, 8-year-old bond pays dividend semiannually and will be redeemed at 114% (of the par value) at its maturity. The rate of interest of the investment yielded to 3% compunded semiannually.

QUESTION:

Determine the price of the bond.

(4 decimal places)

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