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A $21,000 bond redeemable at par on June 17,2012 is purchased on November 04, 2002. Interest is 6.6% payable semi-annually and the yield is 8.8%
A $21,000 bond redeemable at par on June 17,2012 is purchased on November 04, 2002. Interest is 6.6% payable semi-annually and the yield is 8.8% compounded semi-annually. (a) What is the cash price of the bond? (b) What is the accrued interest? (c) What is the quoted price? (a) The cash price 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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