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A $7,000 bond had a coupon rate of 4.50% with interest paid semi-annually. Danielle purchased this bond when there were 6 years left to maturity
A $7,000 bond had a coupon rate of 4.50% with interest paid semi-annually. Danielle purchased this bond when there were 6 years left to maturity and when the market interest rate was 4.75% compounded semi-annually. She held the bond for 2 years, then sold it when the market interest rate was 4.25% compounded semi-annually. a. Calculate the purchase price of the bond. $0.00 Round to the nearest cent b. Calculate the amount that Danielle received when she sold the bond. $0.00 Round to the nearest cent
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