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A $17,000 bond redeemable at par on April 23,2010 is purchased on February 14,2001. Interest 7.3% payable semi annually and the yield is 9.5% compounded
A $17,000 bond redeemable at par on April 23,2010 is purchased on February 14,2001. Interest 7.3% payable semi annually and the yield is 9.5% compounded semi annually.
a) what is the cash price of the bond?
b) what is the accrued interest?
c) what is the quoted price?
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Government and Not for Profit Accounting Concepts and Practices
Authors: Michael Granof, Saleha Khumawala, Thad Calabrese, Daniel Smith
7th edition
1118983270, 978-1119175025, 111917502X, 978-1119175001, 978-1118983270
