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Among a company's assets and accounting records, an actuary finds a 20-year bond that was purchased at a premium. From the records, the actuary has
Among a company's assets and accounting records, an actuary finds a 20-year bond that was purchased at a premium. From the records, the actuary has determined the following: (i) The bond pays semi-annual interest. (ii) The amount for amortization of the premium in the 7th coupon payment was 785.90. (iii) The amount for amortization of the premium in the 13th coupon payment was 1360.50 What is the value of the premium
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