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QUESTION
Problem 1: A $1,000 bond has a coupon of 6 percent and matures after 10 years. a. What would be the bond's price if comparable debt yields 8 percent?...
Please help me with the semiannual calculation on question b. (attached)..The answer is $921, but I do not know how to get that answer...please show me the calculation, since i already have the answer.
