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a) A $17,000, 8.7% bond redeemable at par is purchased 9.5 years before maturity to yield 6.7% compounded semi-annually. If the bond interest is payable
a) A $17,000, 8.7% bond redeemable at par is purchased 9.5 years before maturity to yield 6.7% compounded semi-annually. If the bond interest is payable semi-annually, what is the purchase price of the bond? 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.) b) A $21,000 bond redeemable at par on September 20, 2014is purchased on April 07, 2007. Interest is 8.6% payable semi-annually and the yield is 8.5% compounded semi-annually. (a) What is the cash price of the bond? (b) What is the accrued interest? (c) What is the quoted price? (a) The cash price 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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