Maturity and make coupon payments semiannually

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Question

Suppose a bond has 10 years to maturity and make coupon payments semiannually. The bond has an annual coupon rate of 3% and a face value of $1,000. The yield to maturity for bonds with similar characteristics is 4% per year in the market.

Find the price of the bond.

Reference no: EM133272588

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