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A $ 6 , 5 0 0 bond had a coupon rate of 4 . 2 5 % with interest paid semi - annually. Anthony

A $6,500 bond had a coupon rate of 4.25% with interest paid semi-annually. Anthony purchased this bond when there were 8 years left to maturity and when the market interest rate was 4.50% compounded semi-annually. He held the bond for 4 years, then sold it when the market interest rate was 4.00% compounded semi-annually.
a. Calculate the purchase price of the bond.
$6,391.86
Round to the nearest cent
b. Calculate the amount that Anthony received when he sold the bond.
Round to the nearest cent
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