Question $3$

$A(n)10\mathrm{.}5\%$ bond with $6$ years left to maturity has a YTM of $7\mathrm{.}1\%.$ The

bond's price should be $

You should assume as usual that the

coupon payments occur semiannually.

Margin of error for correct responses: $+/-.05.$

Rounding and Formatting instructions:

Do not enter dollar signs, percent signs, commas, $x,$ or any words in your

response. Do not round any intermediate work, but round your $*$ final$*$

response to $2$ decimal places $($example: if your answer is $12\mathrm{.}3456,$

$12\mathrm{.}3456\%,$ or $$12\mathrm{.}3456,$ you should enter $12\mathrm{.}35).$