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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.
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