Question

Asked Oct 2, 2019

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Union Local School District has a bond outstanding with a coupon rate of 2.9 percent paid semiannually and 24 years to maturity. The yield to maturity on this bond is 3.4 percent, and the bond has a par value of $10,000. |

What is the price of the bond? |

Step 1

**Calculation of Price of the Bond:**

The price of the bond is **$9,184.18**.

**Excel Spreadsheet:**

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