Question
A $5,000 bond had a coupon rate of 5.50% with interest paid semi-annually. Cynthia purchased this bond when there were 8 years left to maturity
A $5,000 bond had a coupon rate of 5.50% with interest paid semi-annually. Cynthia purchased this bond when there were 8 years left to maturity and when the market interest rate was 5.75% compounded semi-annually. She held the bond for 2 years, then sold it when the market interest rate was 5.25% compounded semi-annually. a. What was the purchase price of the bond? $0.00 Round to the nearest cent b. What was the selling price of the bond? $0.00 Round to the nearest cent c. What was Cynthia's gain or loss on this investment? amount was $ $0.00 .
Please i need accurate answers through a financial calculator
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