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A $ 6 , 0 0 0 bond had a coupon rate of 5 . 7 5 % with interest paid semi - annually. Peter
A $ bond had a coupon rate of with interest paid semiannually. Peter purchased this bond when there were years left to maturity and when the market interest rate was compounded semiannually. She held the bond for years, then sold it when the market interest rate was compounded semiannually.
a Calculate the purchase price of the bond.b Calculate the amount that Peter received when she sold the bond.
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