Find what is the present value or worth of the bond

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Problem 1: Assume a $1,000 face value bond has a coupon rate of 7.6 percent paid semiannually and has an eight-year life. If investors are willing to accept a 10.8 percent rate of return on bonds of similar quality, what is the present value or worth of this bond? (Round final answer to nearest dollar amount.)

Reference no: EM132966082

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