Question
A $80 000 bond bearing interest payable semi annually is bought seven years before maturity to yield 2.25% compounded quarterly. If the bond is redeemable
A $80 000 bond bearing interest payable semi annually is bought seven years before maturity to yield 2.25% compounded quarterly.
If the bond is redeemable at par, what is the purchase price?
The purchase price of the bond is $.
(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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Bond Markets Analysis And Strategies
Authors: Frank J.Fabozzi
7th Edition
0136078974, 978-0136078975
