Question: You are considering a 25 -year, $1,000 par value bond. Its coupon rate is 10%, and interest is paid semiannualiy. If you require an effective

You are considering a 25 -year, $1,000 par value bond. Its coupon rate is 10%, and interest is paid semiannualiy. If you require an "effective" annusi interest rate (not a nominal rate) of 9.5420%, how much should you be willing to pay for the bond? Do not round intermediate calculations. Round your answer to the nearest cent. Check My Work (1 remaining)

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