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What is the price of the bonds

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Reference no: EM132977132

Question - Bond Valuation with Semiannual Payments - Renfro Rentals has issued bonds that have a 7% coupon rate, payable semiannually. The bonds mature in 16 years, have a face value of $1,000, and a yield to maturity of 6.5%. What is the price of the bonds? Round your answer to the nearest cent.

Reference no: EM132977132

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