Question

Set up the calculation to arrive at the market value of a bond having a face...

Set up the calculation to arrive at the market value of a bond having a face amount of $1,000, annual interest rate of 6% payable semiannually and 15 years remaining maturity at a 4.5% yield to maturity.  Will the value of the bond be equal to, greater than or less than $1,000?

Please show the algebra equation AND the functions for the financial calculator.

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✓ Value of the bond is $ 635.67 which is less than $ 1000.

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