Making semiannual interest payments

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Reference no: EM131049741

What is the value of a 20-year, noncallable bond with an annual coupon rate of 9.5%, but making semiannual interest payments? The bond has a face value of $1,000, and you require an annual 8.4% discount rate for this investment.

a. $1,105.69

b. $1,133.34

c. $1,161.67

d. $1,190.71

e. $1,220.48

Reference no: EM131049741

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