Find out the selling price of the bond, Finance Basics

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Find out the selling price of the bond

Problem:

A bond with face and redemption amount of $3000 with annual coupons is selling at an effective annual yield rate equal to twice the coupon rate. The present value of the coupons is equal to the present value of the redemption amount.

Required:

Question: What is the selling price of the bond?

Note: Please show the work not just the answer.

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Finance Basics: Find out the selling price of the bond

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Finance Basics: Find out the selling price of the bond

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