What is the maximum price

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Reference no: EM132811940

Assume that you are considering the purchase of a 15-year bond with coupon rate of 9.50%. The bond has a par value of $1,000 and makes semiannual interest payments. If you require an 11.00% yield to maturity on this investment, what is the maximum price you should be willing to pay for the bond (round your answer to two decimal places)?

Reference no: EM132811940

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