What should be the market value (present value) of the following bond with semiannual payments that has a yield-to-maturity (i.e. required rate of return or discount rate) of 8.6%?
Par Value (value at maturity): 50000
Annual Coupon: 5.3%
Maturity: 15 years
What should be the market value (present value) of the following bond with semiannual payments that has a yield-to-maturity (i.e. required rate of return or discount rate) of 8.6%?
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