Maria needs to sell the bond and new bonds are currently


Maria owns a bond that has a par value of $20,000 and pays a 5 percent coupon, payable semi-annually. The bond has 11 years to maturity. Maria needs to sell the bond and new bonds are currently carrying coupon rates of 6.5 percent, payable semi-annually. At what price could Maria sell the bond?

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Finance Basics: Maria needs to sell the bond and new bonds are currently
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