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A $50,000 bond with a 10% coupon, payable semi-annually, was purchased on September 25, 2019. It is redeemable at par on December 1, 2030,
A $50,000 bond with a 10% coupon, payable semi-annually, was purchased on September 25, 2019. It is redeemable at par on December 1, 2030, and was purchased to yield 7.6% compounded semi-annually. What is the cash price of the bond? Hint: Access the BOND worksheet on your calculator. Remember that the PRI and Al are displayed as a % of the bond's value. Take that into account as you calculate the cash price. (Round your final answer to two decimals).
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