Question
A $30,000 bond pays interest 8% annually on October 1st and matures on October 1, 2028. The bond is purchased on March 1, 2017 to
A $30,000 bond pays interest 8% annually on October 1st and matures on October 1, 2028. The bond is purchased on March 1, 2017 to yield 6% interest compounded annually. Compute the purchase price. (And interest price: $34,906.06; Price plus accrued interest $35,906.06) Cannot use Excel.
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Financial Markets And Institutions
Authors: Peter Howells, Keith Bain
5th Edition
0273709194, 9780273709190
