Calculate the present value of bond that pays semi-annual

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Problem 1: Given the following information, calculate the present value of the following bond that pays semi-annual coupons. Par value: $1,000. Coupon Rate: 7%. Interest Rate: 8%. Maturity: 7 years.

Group of answer choices

Option 1: $947

Option 2: $804

Option 3: $864

Option 4: $1,000

Option 5: $929

Reference no: EM132713057

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