Compounded semi-annually for the time the bond was held

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An investor buys a 3% 20-year bond with a face value of $1000 for $1088. After receiving semi-annual dividend payments for 11 years, the investor decides to sell it. What would the sale price need to be to get an ROI of 4% per year compounded semi-annually for the time the bond was held?

Reference no: EM13733480

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