Question: Mike is considering a $1,000 par value bond for all the following scenarios. (Input all answers as positive values, no commas, with no symbols ex.

Mike is considering a $1,000 par value bond for all the following scenarios.

(Input all answers as positive values, no commas, with no symbols ex. no $ or %. Input all % answers as whole numbers without symbols ex. 10.03 for .1003. Input all final answers two decimal places out.)

16. What price should Mike pay for this bond if it has a 7% coupon rate paid semiannually, the bond is priced to yield 6% and it has 12 years to maturity?

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