Question
A $33,000 bond redeemable at par on January 03, 2014 is purchased on February 27,2007. Interest is 7.4% payable semi-annually and the yield is 6.2%
A $33,000 bond redeemable at par on January 03, 2014 is purchased on February 27,2007. Interest is 7.4% payable semi-annually and the yield is 6.2% compounded semi-annually. (a) What is the cash price of the bond? (b) What is the accrued interest? (c) What is the quoted price?
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Contemporary Business Mathematics with Canadian Applications
Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs
10th edition
133052311, 978-0133052312
