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A $5,500 bond that carries a 3.50% coupon rate payable semi-annually is purchased 6 years before maturity when the yield rate was 4.50% compounded semi-annually.

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A $5,500 bond that carries a 3.50% coupon rate payable semi-annually is purchased 6 years before maturity when the yield rate was 4.50% compounded semi-annually. a. Calculate the purchase price of the bond. $ Round to the nearest cent b. What is the amount of discount or premium on the bond? amount is (Click to select) (click to select) Premium Discount Par ent

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