Question
1) You buy a municipal bond for $27,500 with an interest rate of 5.50%, and you hold it until its maturity date in 20 years.
1) You buy a municipal bond for $27,500 with an interest rate of 5.50%, and you hold it until its maturity date in 20 years. (Do not round intermediate calculations. Round your final answers to 2 decimal places.)
a. What is the amount of the interest payment you will receive every six months?
b. What will be the amount of the final payment you receive in 20 years?
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Finance For Nonfinancial Managers
Authors: Gene Siciliano
2nd Edition
0071824367, 978-0071824361
