What is the maximum that investor should pay for the bond

Reference no: EM13181993

An investor wants to earn a yield of 9% from a 10,000 bond with a coupon rate of 6% payable semiannually. The bond's life is 10 years, and it was issued 4 years ago. The eighth payment will be made immediately after the purchase. What is the maximum that the investor should pay for the bond?

Reference no: EM13181993

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