Question: Ben purchased a $ 6 5 , 0 0 0 bond carrying a 4 . 7 5 % coupon rate when it had 9 years

Ben purchased a $65,000 bond carrying a 4.75% coupon rate when it had 9 years remaining until maturity. What price did he pay if the prevailing rate of return on the purchase date was 5.5% compounded semiannually

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