Question
A $23 000, 5.6% bond redeemable at par is purchased 6.5 years before maturity to yield 5.7 % compounded semi-annually. If the bond interest is
A $23 000, 5.6% bond redeemable at par is purchased 6.5 years before maturity to yield
5.7 % 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 $
(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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Bond Markets Analysis And Strategies
Authors: Frank J. Fabozzi, Francesco A. Fabozzi
10th Edition
026204627X, 978-0253337535
