Coupon rate with interest paid semiannually

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Reference no: EM13972022

ABC Corporation's bonds have a 10-year maturity, a 5.75% coupon rate with interest paid semiannually, and a par value of $1,000. If your nominal required rate of return on these bonds is 7.50%, what is the maximum price you should be willing to pay for the bond?

Note: Enter your answer rounded to the nearest cent. Do not enter $ or comma in the answer box. For example, if your answer is $12,300.456 then enter as 12300.46 in the answer box.

Reference no: EM13972022

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