Find the bond-s price based on semiannual compounding


Bank of America has bonds which have a 10-year maturity, a 6.25% semiannual coupon, and a par value of $1,000. The going interest rate (rd) is 4.75%, based on semiannual compounding. What is the bond's price?

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Finance Basics: Find the bond-s price based on semiannual compounding
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