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A $25,000, 7.5% bond redeemable at par is purchased 8 years before maturity to yield 5.7% compounded semi-annually. If the bond interest is payable semi-annually,
A $25,000, 7.5% bond redeemable at par is purchased 8 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?
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Contemporary Economics An Applications Approach
Authors: Robert Carbaugh
8th Edition
1138652199, 978-1138652194
