A $22,000, 5.4% bond redeemable at par is purchased 7 years before maturity to yield 8.8% compounded

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A $22,000, 5.4% bond redeemable at par is purchased 7 years before maturity to yield 8.8% compounded semi-annually. If the bond interest is payable semi-annually, what is the purchase price of the bond?

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Transcribed image text: A $22,000, 5.4% bond redeemable at par is purchased 7 years before maturity to yield 8.8% compounded semi-annually. If the bond interest is payable semi-annually, what is the purchase price of the bond

Posted Date: Jul 05, 2024 01:02 AM

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A $22,000, 5.4% bond redeemable at par is purchased 7 years before maturity to yield 8.8% compounded

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