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A $3000, 7.5% bond (payable semi-annually) is redeemable at par in 2 years and 6 months. If the bond is purchased to yield 8.1% compounded

A $3000, 7.5% bond (payable semi-annually) is redeemable at par in 2 years and 6 months. If the bond is purchased to yield 8.1% compounded semi-annually, determine the purchase price of the bond. Draw a timeline in your notes to help you practice!

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