A $1000 bond bearing interest at 8% payable semi-annually redeemable at par on February 1, 2024, was

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A $1000 bond bearing interest at 8% payable semi-annually redeemable at par on February 1, 2024, was purchased on October 12, 2017, to yield 7% compounded semi-annually. Determine the purchase price.

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Contemporary Business Mathematics With Canadian Applications

ISBN: 9780135285015

12th Edition

Authors: Ali R. Hassanlou, S. A. Hummelbrunner, Kelly Halliday

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Question Posted: Oct 27, 2020 07:09 AM

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A $1000 bond bearing interest at 8% payable semi-annually redeemable at par on February 1, 2024, was

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The purchase price of the bond is calculated using the following formula Purchase Price Fa...View the full answer

Contemporary Business Mathematics With Canadian Applications

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