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A 15000$, 8% bond with quarterly interest coupons redeemable at par in 7 years is purchased to yield at 9% compounded quarterly. (i) What is

A 15000$, 8% bond with quarterly interest coupons redeemable at par in 7 years is purchased to yield at 9% compounded quarterly. (i) What is the premium or discount? (ii) What is the purchase price?

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