What is the invoice price

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Reference no: EM131905666

You purchase a bond with a coupon rate of 9.3 percent, a par value of $1,000, semiannual coupons, and a clean price of $825. If the next coupon payment is due in four months, what is the invoice price? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Reference no: EM131905666

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