What should be the price of bond

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Reference no: EM131932062

Duke Energy has recently issued a bond with the following characteristics: maturity: 20 years, coupon rate: 7% (paid semi-annually), face value: $1000. Your investment advisor has told you that the yield-to-maturity on this bond is 6.5%. What should be the price of this bond?

Reference no: EM131932062

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