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QUESTION
You purchase 3,500 bonds with a par value of $1,000 for $963 each. The bonds have a coupon rate of 7.1 percent paid semiannually and mature in 10...
You purchase 3,500 bonds with a par value of $1,000 for $963 each. The bonds have a coupon rate of 7.1 percent paid semiannually and mature in 10 years. How much will you receive on the next coupon date?
(Round your answer to 2 decimal places. Omit the "$" sign in your response.)
