Question: Ali is evaluating a bond issued by FIFO Ltd that has a face value of $1000 and a coupon rate of 5% pa. The coupons

Ali is evaluating a bond issued by FIFO Ltd that has a face value of $1000 and a coupon rate of 5% pa. The coupons are paid semi-annually and the bond has 10 years to maturity and 6.5% pa yield. If Ali has $9000 to invest, calculate the price of the bond (show all calculation and show answer correct to two decimal places) and explain how many bonds Ali can buy.

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