Question: Without excel (show your work) A 1,000-par value 30-year bond sells for X and yields a nominal interest rate of 9% convertible semiannually. The bond

Without excel (show your work)

A 1,000-par value 30-year bond sells for X and yields a nominal interest rate of 9% convertible semiannually. The bond has 8% coupons payable semiannually and a redemption value of 1,150. Calculate X.

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