A $1000, 9.5% bond with semi-annual coupons redeemable at par on March 1, 2022, was purchased on

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A $1000, 9.5% bond with semi-annual coupons redeemable at par on March 1, 2022, was purchased on September 19, 2013, to yield 7% compounded semi-annually. What was the purchase price?

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Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

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Question Posted: Feb 26, 2016 04:16 AM

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A $1000, 9.5% bond with semi-annual coupons redeemable at par on March 1, 2022, was purchased on

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Contemporary Business Mathematics with Canadian Applications

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