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A 100,000 par value bond with semiannual coupons at 6% convertible semiannually is purchased on 1/1/2019 and the redemption date is 1/1/2029. The redemption value

A 100,000 par value bond with semiannual coupons at 6% convertible semiannually is purchased on 1/1/2019 and the redemption date is 1/1/2029. The redemption value is 100,000. The coupons are reinvested at the nominal rate of 5%. The overall yield to the investor is 5.5% convertible semiannually. Find the purchase price of the bond.

102670

102120

102980

101990

103800

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