Question
A government issues $4000000 of serial bonds paying interest at j2 = 9%, of which $2000000 is redeemed in 10 years, $2000000 is redeemed in
A government issues $4000000 of serial bonds paying interest at j2 = 9%, of which $2000000 is redeemed in 10 years, $2000000 is redeemed in 15 years and $0 is redeemed in 20 years. Determine the purchase price on the day that the bonds were issued, in order for investors to receive a yield of j2 = 4%.
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Handbook Of Project Finance For Water And Wastewater Systems
Authors: Michael Curley
1st Edition
0873714865, 978-0873714860
