Question
A 20-year bond issue of $4,900,000 and bearing interest at 3.5% payable annually is sold to yield 3.1% compounded quarterly. What is the issue price
A 20-year bond issue of $4,900,000 and bearing interest at 3.5% payable annually is sold to yield 3.1% compounded quarterly. What is the issue price of the bonds?
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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Public Finance A Contemporary Application Of Theory To Policy
Authors: David N Hyman
10th Edition
053875446X, 978-0538754460
