Bond value-semiannual payment


Task: Bond Value - Semiannual Payment

Assume that you wish to purchase a 25-year bond that has a maturity value of $1,000 and makes semiannual interest payments of $45. If you require a 7 percent nominal yield to maturity on this investment, what is the maximum price you should be willing to pay for the bond?

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Finance Basics: Bond value-semiannual payment
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