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Homework answers / question archive / Marco Chip, Inc  just issued zero-coupon bonds with a par value of $1,000

Marco Chip, Inc  just issued zero-coupon bonds with a par value of $1,000

Finance

Marco Chip, Inc  just issued zero-coupon bonds with a par value of $1,000. The bond has a maturity of 8 years and a yield to maturity of 7.47 percent, compounded semi-annually. What is the current price of the bond? Round the answer to two decimal places.

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