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$4,000 bonds redeemable at par bearing 5% coupons payable annually are sold nine years before maturity to yield 6.4% compounded quarterly. What is the premium
$4,000
bonds redeemable at par bearing
5%
coupons payable
annually
are sold
nine
years before maturity to yield
6.4%
compounded
quarterly.
What is the premium or discount and the purchase price of the bonds?
The
premium
discount
is
$nothing.
(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
The purchase price of the bonds is
$nothing.
(Round the final answer to the nearest cent as needed. Round all intermediat
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