A $10 000, 3 bond is purchased nine years and six months before maturity to yield 2 semi annually If the bond interest is payable semi annually, what is the purchase price of the bond ...

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A $10 000, 3% bond is purchased nine years and six months before maturity to yield 2%

Question:

A $10 000, 3% bond is purchased nine years and six months before to yield 2% semi-annually. If the bond interest is payable semi-annually, what is the purchase price of the bond?
Maturity
Maturity is the date on which the life of a transaction or financial instrument ends, after which it must either be renewed, or it will cease to exist. The term is commonly used for deposits, foreign exchange spot, and forward transactions, interest...