Calculate the value of a $1,000 par bond which has 15 years until maturity and pays...

 

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Calculate the value of a $1,000 par bond which has 15 years until maturity and pays semiannual interest at an annual coupon rate of 6 percent. The required return on similar-risk bonds is 7 percent. The first interest payment is 6 months from today. Select the range that includes the bond's correct price. Round only your final answer to two decimal places. O Less than $900 Greater than or equal to $900, but less than $925 Greater than or equal to $925, but less than $950 Greater than or equal to $950, but less than $975 O Greater than or equal to $975 Calculate the value of a $1,000 par bond which has 15 years until maturity and pays semiannual interest at an annual coupon rate of 6 percent. The required return on similar-risk bonds is 7 percent. The first interest payment is 6 months from today. Select the range that includes the bond's correct price. Round only your final answer to two decimal places. O Less than $900 Greater than or equal to $900, but less than $925 Greater than or equal to $925, but less than $950 Greater than or equal to $950, but less than $975 O Greater than or equal to $975

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