Question: Problem 2 (See pages 296 - 307) You are called in as a financial analyst to appraise the bonds of Merck & Company, Inc. The

Problem 2 (See pages 296 - 307) You are called in as a financial analyst to appraise the bonds of Merck & Company, Inc. The $1,000 par value bonds have a quoted annual interest rate of 5.4%, which is paid semiannually. The yield to maturity on the bonds is 6.4% annual interest. There are 25 years to maturity Compute the price of the bonds based on semiannual analysis. See page 307. (PLEASE SHOW YOU RWORK)

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