Question
A $15,000, 5.5% bond pays interest on March 5th, June 5th, September 5th and December 5th of each year. The bond is purchased on August
A $15,000, 5.5% bond pays interest on March 5th, June 5th, September 5th and December 5th of each year. The bond is purchased on August 5, 2017 to yield 6.5% compounded quarterly and matures on December 5, 2018. Compute the purchase price of the bond.
Cannot use Excel or a financial calculator. Please show step by step work
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Introductory Econometrics For Finance
Authors: Chris Brooks
4th Edition
110843682X, 9781108436823
