Question: Applied Software has a $ 1 , 0 0 0 par value bond outstanding that pays 1 2 percent interest with annual payments. The current
Applied Software has a $ par value bond outstanding that pays percent interest with annual payments. The current yield to maturity on such bonds in the market is percent. Time to maturity is years. Compute the price of the bonds.
Show the answer with no $ signs and no commas, with decimals. For example, $ should be shown as
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