Question: You find a zero coupon bond with a par value of $10,000 and 18 years to maturity. The yield to maturity on this bond is

You find a zero coupon bond with a par value of $10,000 and 18 years to maturity. The yield to maturity on this bond is 5 percent. Assume semiannual compounding periods.

What is the price of the bond?

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