A $20 000, 10% bond with semi-annual coupons redeemable at par March 1, 2021, was purchased on

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A $20 000, 10% bond with semi-annual coupons redeemable at par March 1, 2021, was purchased on November 15, 2014, to yield 9% compounded semi-annually. What was the purchase price of the bond?

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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 04:17 AM

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A $20 000, 10% bond with semi-annual coupons redeemable at par March 1, 2021, was purchased on

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FV 20 00000 PMT 20 00000005 100000 i 45 Interest dates March 1 Se...View the full answer

Contemporary Business Mathematics with Canadian Applications

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