Question: You find a zero coupon bond with a par value of $25,000 and 18 years to maturity. If the yield to maturity on this bond

You find a zero coupon bond with a par value of $25,000 and 18 years to maturity.

If the yield to maturity on this bond is 3.9 percent, what is the dollar price of the bond? Assume semiannual compounding periods.

What is the bond price?

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