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A $22,000 bond redeemable at par on September 20, 2012 is purchased on November 26, 2001.Interest is 7.2% payable semi-annually and the yield is 6.7%
A $22,000 bond redeemable at par on September 20, 2012 is purchased on November 26, 2001.Interest is 7.2% payable semi-annually and the yield is 6.7% compounded semi-annually.
(a) What is the cash price of the bond?
(b) What is the accrued interest?
(c) What is the quoted price?
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