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Calculate the price accurate to two decimal places

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    Assignment ID: FG133134542

    Question – When Polycorp issued its debentures three years ago, they had six years remaining to maturity. Using the following information, calculate the price of the debentures today.

    Face value = $100

    Coupon Rate = 0.06

    Yield = 0.07

    Both the coupon rate and the yield are expressed as decimals, e.g. 12% pa is expressed as .12. Calculate the price accurate to two decimal places.

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