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What is the price of the bond that pays annual interest

Problem:

A 6-year bond that pays 8% interest semiannually sells at par $1000. Another 6-year bond of equal risk pays 8%interest annually. Both bonds are noncallable and have a face value of $1000. What is the price of the bond that pays annual interest?

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Finance Basics: What is the price of the bond that pays annual interest

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Finance Basics: What is the price of the bond that pays annual interest

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