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A $5,000 bond with a coupon rate of 6.50% is purchased 8.5 years before maturity when the yield rate was 7.00% compounded semi-annually. The bond
A $5,000 bond with a coupon rate of 6.50% is purchased 8.5 years before maturity when the yield rate was 7.00% compounded semi-annually. The bond coupons are paid every six months. Calculate the purchase price of the bond. $0.00 Round to the nearest cent
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