Based on semiannual compounding-what is the bonds price

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Moerdyk Corporation's bonds have a 10-year maturity, a 6.25% semiannual coupon, and a par value of $1,000. The going interest rate (rd) is 5%, based on semiannual compounding. What is the bond's price? EXPLAIN YOUR ANSWER AND SHOW YOUR WORK

Reference no: EM13921226

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