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What is the current price of the bond for german company

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Even though most corporate bonds in the United States make coupon payments semi-annually, bonds issued elsewhere often have annual coupon payments. Suppose a German company issues a bond with a par value of €1,000, 23 years to maturity, and a coupon rate of 5.8 percent paid annually. The current yield to maturity is 4.7 percent.

Problem 1: What is the current price of the bond?

Reference no: EM132962492

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