Question
A $25,000 , 5.4% bond redeemable at par is purchased 8 years before maturity to yield 6.7 % compounded semi-annually. If the bond interest is
A
$25,000 ,
5.4%
bond redeemable at par is purchased
8
years before maturity to yield
6.7 %
compounded
semi-annually.
If the bond interest is payable semi annually
what is the purchase price of the bond?
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Financial Institutions Management A Risk Management Approach
Authors: Anthony Saunders, Marcia Cornett
6th Edition
0077211332, 9780077211332
