$2,000,000 issue of twelve-year bonds redeemable at par offers 7% coupons payable semi-annually

Math Mar 21, 2023

$2,000,000 issue of twelve-year bonds redeemable at par offers 7% coupons payable semi-annually. What is the issue price of the bonds to vield 5.8% compounded annuallv? The issue price of the bond is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)