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A $130,000 bond bearing interest at 5% payable semi-annually is bought seven years before maturity to yield 4.45% compounded quarterly. If the bond is redeemable

A

$130,000

bond bearing interest at

5%

payable

semi-annually

is bought

seven

years before maturity to yield

4.45%

compounded

quarterly.

If the bond is redeemable at par, what is the purchase price?The purchase price of the bond is

$nothing.

(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

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