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A bond with a face value of $1300 pays a half-yearly interest rate if 6% p/a...

A bond with a face value of $1300 pays a half-yearly interest rate if 6% p/a compounded half-yearly and has 14 years till maturity.

The next interest payment is due in exactly one half-year. Calculate the price (P) required to yield 4% pa compounded half yearly.

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