What is the price of the bonds

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Reference no: EM132074235

Union Local School District has bonds outstanding with a coupon rate of 3.8 percent paid semiannually and 29 years to maturity. The yield to maturity on these bonds is 2.9 percent and the bonds have a par value of $10,000.

What is the price of the bonds? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Price $

Reference no: EM132074235

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