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3. In how many years will $15345 grow to $23375 at 6% compounded semi-annually? 5. A 15000$, 8% bond with quarterly interest coupons redeemable at

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3. In how many years will $15345 grow to $23375 at 6% compounded semi-annually? 5. A 15000$, 8% bond with quarterly interest coupons redeemable at par in 7 years is purchased to yield at 9% compounded quarterly. (i) What is the premium or discount? (ii) What is the purchase price

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