What is price of bond immediately after makes first paymet

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Reference no: EM13927866

Suppose that General Motors issued a bond with 10 years until maturity, a face value of $1,000, and a coupon rate of 7% (annual payments). The yield to maturity on this bond when it was issued was 6%. Assuming the yield to maturity remains constant, what is the price of the bond immediately after it makes its first payment? Please use financial calculator's functions to explain the calculations

Reference no: EM13927866

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