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General Mills has a $1,000 par value, 15-year to maturity bond outstanding with an annual coupon rate of 8.01 percent per year, paid semiannually. Market interest rates on similar bonds are 8.15 percent. Calculate the bond’s price today.

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General Mills has a $1,000 par value, 15-year to maturity bond outstanding

with an annual coupon rate of 8.01 percent per year, paid semiannually. Market interest rates on similar bonds are 8.15 percent. Calculate the bond’s price today.

 
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