Question
A $8,000 bond that carries a 3.50% coupon rate payable semi-annually is purchased 7 years before maturity when the yield rate was 5.00% compounded semi-annually.
A $8,000 bond that carries a 3.50% coupon rate payable semi-annually is purchased 7 years before maturity when the yield rate was 5.00% compounded semi-annually.
a. Calculate the purchase price of the bond. $ $0.00 Round to the nearest cent
b. What is the amount of discount or premium on the bond? amount is $0.00
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Multinational Business Finance
Authors: David Eiteman, Arthur Stonehill, Michael Moffett
15th Global Edition
129227008X, 9781292270081
