Question
A $130,000 bond bearing interest at 5.5% payable annually is bought seven years before maturity to yield 5.95% compounded semi-annually. If the bond is redeemable
A $130,000 bond bearing interest at 5.5% payable annually is bought seven years before maturity to yield 5.95% compounded semi-annually. If the bond is redeemable at par, what is the purchase price?
The purchase price of the bond is $__
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Financial Management For Public Health And Not-for-Profit Organizations
Authors: Steven A. Finkler, Daniel L. Smith, Thad D. Calabrese, Robert M. Purtell
7th Edition
1071835335, 978-1071835333
