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An $8,000 bond paying interest at 6% compounded semi-annually is redeemable on May 1, 2026. The bond is purchased on Sept. 8, 2014, to yield
An $8,000 bond paying interest at 6% compounded semi-annually is redeemable on May 1, 2026. The bond is purchased on Sept. 8, 2014, to yield 9% compounded semi-annually. Calculate the purchase price.
* PLEASE GIVE ALL THE TABLE VALUES OR I WILL THUMBS DOWN YOUR ANSWER. *
Purchase Date: Redemption Date: Interest Date immediately BEFORE purchase date: Interest Date immediately AFTER purchase date: \begin{tabular}{|c|l|l|} \hline PMT & & \\ \hline Setting & & \\ \hline N & & \\ \hline I/Y & & \\ \hline P/Y & & \\ \hline C/Y & & \\ \hline PV & & \\ \hline PMT & & \\ \hline FV & & \\ \hline \end{tabular}Step by Step Solution
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