Question
A $20,000, 9.7% bond redeemable at par is purchased 9 years before maturity to yield 5.4% compounded semi-annually. If the bond interest is payable semi-annually,
A $20,000, 9.7% bond redeemable at par is purchased 9 years before maturity to yield 5.4% 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 $
(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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Finance Bundling And Finance Transformation
Authors: Frank Keuper, Kai-Eberhard Lueg
1st Edition
3658042109, 978-3658042103
