Hercules bought an Australian Treasury bond with a coupon rate of j 2= 3.95%p.a. and a face
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Question:
Hercules bought an Australian Treasury bond with a coupon rate ofj2= 3.95%p.a. and a face value of $100. The maturity date of the bond is 15May 2033.
If Hercules purchased this bond on 2 May 2018,what was his purchase price (rounded to four decimal places)? Assume a purchase yield ofj2= 3.7%p.a
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