Comparable market interest rates drop

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Reference no: EM132037409

What is the market price of a $1,000, 8 percent bond paying a semiannual coupon if comparable market interest rates drop to 4 percent and the bond matures in 15 years? (Hint: Use Appendix A-2 and Appendix A-4.) Round Present Value of a Single Amount and Present Value of a Series of Equal Amounts in intermediate calculations to four decimal places. Round your answer to the nearest dollar.

Reference no: EM132037409

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