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Posted on Aug 22, 2024

. A $ 1 0 0 0 , 5 % bond is purchased 8 . 5 years before maturity to yield 4 % compounded semi

.

A $

1000, 5 %

bond is purchased

8.5

years before maturity to yield

4 %

compounded

semi

-

annually. If the bond interest is payable semi

-

annually, what is the purchase

price of the bond?

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