Union local school district has bonds outstanding with a, Financial Management

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Union local school district has bonds outstanding with a

Union Local School District has bonds outstanding with a coupon rate of 3.6 percent paid semiannually and 12 years to maturity. The yield to maturity on these bonds is 2.4 percent and the bonds have a par value of $5,000.

What is the price of the bonds? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Price

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Financial Management: Union local school district has bonds outstanding with a

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