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QUESTION
What must be the price of a $5000 bond with a 6.4% coupon rate, semiannual coupons, and eight years to maturity if it has a yield to maturity of 9%
What must be the price of a $5000 bond with a 6.4% coupon rate, semiannual coupons, and eight years to maturity if it has a yield to maturity of 9% APR?
A. $5978
B. $3416
C. $4270
D. $5124
Please show work
