Which pays quarterly interest at annual coupon rate

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Reference no: EM131841935

Calculate the value (price) of a $5,000 par value bond which pays quarterly interest at an annual coupon rate of 9.51% and has 13 years until maturity. The yield on similar risk bonds is currently 6.81% (nominal annual with quarterly compounding). Answer in dollars to two decimal places.

Reference no: EM131841935

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