Lucy Lampkin wants to purchase a bond with a face value of $7,000 and a bond rate

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Lucy Lampkin wants to purchase a bond with a face value of $7,000 and a bond rate of 6 percent per year, payable at 3 percent semiannually. The bond has a remaining life of 5 years. If Lucy wants to earn at least 8 percent per year compounded semiannually, at what range of prices should she be willing to purchase the bond?

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Principles Of Engineering Economic Analysis

ISBN: 9781118163832

6th Edition

Authors: John A. White, Kenneth E. Case, David B. Pratt

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