What is the bond price today

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Five years ago (t=0), Cooper Inc. issued a 20-year zero-coupon bond with a yield to maturity of 10%. The face value of the bond is $1,000. Because of the operation improvement, the yield to maturity now drops to 6%. What is the bond price today (t=5)? Assume compounded semi-annually.

Reference no: EM133121237

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