Question
A $19,000, 9.7% bond redeemable at par is purchased 5 years before maturity to yield 6.1% compounded semi-annually. If the bond interest is payable semi-annually,
A $19,000, 9.7% bond redeemable at par is purchased 5 years before maturity to yield 6.1% 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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Fundamental Accounting Principles Volume I
Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann
16th Canadian edition
978-1260305821
