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What is the current price of each bond

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Question - Four years ago, a company issued 25-year bonds with a coupon rate of 6 percent and semiannual payments. The face value of each bond is $2000 and the yield to maturity when the bonds were issued was 8.1 percent. The first coupon payment will be paid after six months. Later today, you will receive another coupon payment from this bond. The yield to maturity is now 6.4 percent. What is the current price of each bond?

Reference no: EM132972169

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