Question: must use formula to answer Union Local School District has bonds outstanding with a coupon rate of 3.7 percent paid semiannually and 16 years to

must use formula to answer

Union Local School District has bonds outstanding with a coupon rate of 3.7 percent paid semiannually and 16 years to maturity. The yield to maturity on these bonds is 3.9 percent and the bonds have a par value of $5,000. What is the dollar price of the bond? Settlement date 1/1/2000 Maturity date 1/1/2016 Coupon rate 3.70% Coupons per year N Redemption value (% of par) 100 Yield to maturity 3.90% Par value 5,000 Complete the following analysis. Do not hard code values in your calculations. Leave the "Basis" input blank in the function. You must use the built-in Excel function to answer this question. Dollar price

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