Calculate the price of a zero-coupon bond that matures in 12 years if the market interest rate is 6.05 percent. Assume semiannual compounding. (Do not round intermediate calculations and round your final answer to 2 decimal places.)
Calculate the price of a zero-coupon bond that matures in 12 years if the market interest rate is 6.05 percent. Assume semiannual compounding. (Do not round intermediate calculations and round your final answer to 2 decimal places.)
Chapter6: Fixed-income Securities: Characteristics And Valuation
Section: Chapter Questions
Problem 8P
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Calculate the price of a zero-coupon bond that matures in 12 years if the market interest rate is 6.05 percent. Assume semiannual compounding. (Do not round intermediate calculations and round your final answer to 2 decimal places.)
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