Find the value of a bond maturing

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Reference no: EM131300242

Find the value of a bond maturing in 7 ?years, with a ?$1,000 par value and a coupon interest rate of 13?% ?(6.5?% paid? semi annually) if the required return on? similar-risk bonds is 14?% annual interest (7% paid? semiannually).

The present value of the bond is $_____ (Round to nearest cent)

Reference no: EM131300242

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