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A $21,000, 9.3% bond redeemable at par is purchased 9 years before maturity to yield 8.5% compounded semi-annually. If the bond interest is payable semi-annually.
A $21,000, 9.3% bond redeemable at par is purchased 9 years before maturity to yield 8.5% 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 $0 (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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