Question: Please include your work! A bond pays interest semiannually. Its coupon rate is 3.9%, a term to maturity of 9 years, a par value of

Please include your work!

A bond pays interest semiannually. Its coupon rate is 3.9%, a term to maturity of 9 years, a par value of $1,000. Yields or comparable market rates for this bond are 2.2%. Based on this information what is the value or price of the bond?

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