Bond Valuation with Semiannual Payments Renfro Rentals has issued bonds that have a 12% coupon rate,...

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Bond Valuation with Semiannual Payments Renfro Rentals has issued bonds that have a 12% coupon rate,...

Bond Valuation with Semiannual Payments Renfro Rentals has issued bonds that have a 12% coupon rate, payable semiannually. The bonds mature in 15 years, have a face value of $1,000, and a yield to maturity of 9%. What is the price of the bonds? Round your answer to the nearest cent.

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solution calculation of Price of bonds P= cx litijn M. - Titish where is the price of bond with Periodic couponc, i is the pe

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