ng Enabled: Unit $2$ Exam

Saved

Union Local School District has bonds outstanding with a coupon rate of $3\mathrm{.}2$ percent paid semiannually and $21$ years to maturity. The yield to maturity on these bonds is $3\mathrm{.}5$ percent and the bonds have a par value of $$5,000.$ What is the dollar price of the bonds?

Note: Do not round intermediate calculations and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.$