Question: Problem 8 - 9 Valuing Bonds Union Local School District has bonds outstanding with a coupon rate of 3 . 2 percent paid semiannually and

Problem 8-9 Valuing Bonds
Union Local School District has bonds outstanding with a coupon rate of 3.2 percent paid semiannually and 15 years to maturity. The yield to maturity on these bonds is 3.5 percent and the bonds have a par value of $5,000. What is the dollar price of the bond? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g.,32.16.)
Answer is complete but not entirely correct.
\table[[Bond price,$4,778.24ox
 Problem 8-9 Valuing Bonds Union Local School District has bonds outstanding

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