(TCO D) Bond value - semiannual payment Assume that you wish to purchase a 25-year bond that has a maturity value of $1,000 and makes semiannual...

3. (TCO D) Bond value - semiannual payment Assume that you wish to purchase a 25-year bond that has a maturity value of $1,000 and makes semiannual interest payments of $45. If you require a 7 percent nominal yield to maturity on this investment, what is the maximum price you should be willing to pay for the bond? (Points: 25)

Bond value - semiannual paymentAssume that you wish to purchase a 25-year bond that has a maturity value of $1,000 and makes semiannual interest payments of $45. If you require a 7 percent nominal...