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Calculate the price of the bond

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Reference no: EM133015303

Question - Business raised $2 million by issuing a 7-year bond issue on the 31st of December 2018. The bond pays 7% pa in coupons, with coupons paid quarterly. Calculate the price of the bond on the 8th of June 2020, given a market yield of 3.5%.

Reference no: EM133015303

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