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An investor purchases a 9-year, $1,000 par value bond that pays semiannual interest of $45. If the semiannual market rate of

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Answer #1

rate positively ..

we have to use financial calculator to solve this
put in calculator
FV 1000
PMT 45
I 6%
N 18
compute PV ($837.59)
Ans= $837
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