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. $137.50 , $14,946.46
Cannot use Excel or a financial calculator. Please show step by step written work.
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Investments An Introduction
Authors: Herbert B. Mayo
13th Edition
0357127951, 978-0357127957
