Union Local School District has outstanding bonds with a 3.8 percent coupon rate paid semi-annually and 21 years until maturity. These bonds have a yield to maturity of 4.3 percent and the face value of the bonds is $5,000. What is the dollar price of the bond? (Do not round intermediate calculations and round your answer to 2 decimal places, for example 32.16.) Bond price $

Answer rating: 100% (QA)

To calculate the dollar price of the bond we can use the present ... View the full answer