Six $1000 bonds with 2.4% coupons payable semi-annually are purchased three months after a coupon matures, to

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Six $1000 bonds with 2.4% coupons payable semi-annually are purchased three months after a coupon matures, to yield 1.2% compounded monthly. The bonds mature in eight years.
(a) What is the purchase price of the bond?
(b) What is the accrued interest?
(c) What is the market 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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