Solved: What is the price of the, a 5000 par value municipal bond with a coupon rate of 37, Finance Basics

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What is the price of the

A 5,000 par value municipal bond with a coupon rate of 3.7 percent has a yield to maturity of 4.7 percent. If the bond has 10 years to maturity, what is the price of the bond? (Round your answer to 2 decimal places. Omit the "$" sign in your response.)

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