What is the bond price for wallen corp

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Problem 1: Wallen Corp. just issued 10 year bonds at a coupon rate of 4.5%. The bonds have a face value of $1,000 and pay interest semiannually. If the yield to maturity on these bonds is 4.5%, what is the bond price? Set up an equation for calculating bond price, plugging in the correct numbers for this problem. Then solve for bond price either on your financial calculator or by solving your equation.

Reference no: EM132959006

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