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A$120,000 bond bearing interest at 7.5% payable annually is bought seven years before maturity to yield 7.05% compounded semi-annually. If the bond is redeemable
A$120,000 bond bearing interest at 7.5% payable annually is bought seven years before maturity to yield 7.05% compounded semi-annually. 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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Financial accounting
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel
IFRS Edition
9781119153726, 978-1118285909
