Question
A $17,000, 5.1% bond redeemable at par is purchased 9 years before maturity to yield 8.6% compounded semi-annually. If the bond interest is payable semi-annually,
A $17,000, 5.1% bond redeemable at par is purchased 9 years before maturity to yield 8.6% compounded semi-annually. If the bond interest is payable semi-annually, what is the purchase price of the bond?
The purchase price of the bond is $___
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Financial Accounting: A Business Process Approach
Authors: Jane L. Reimers
3rd edition
978-0136115274
