Question: Problem 8-9 Valuing Bonds Union Local School District has bonds outstanding with a coupon rate of 3.7 percent paid semiannually and 20 years to maturity.

Problem 8-9 Valuing Bonds Union Local School District has bonds outstanding with a coupon rate of 3.7 percent paid semiannually and 20 years to maturity. The yield to maturity on these bonds is 4.2 percent and the bonds have a par value of $10,000. What is the dollar price of each bond?

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