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An investor bought a 15-year bond with par value of 100000 and 8% semiannual coupons. The bond is callable at par on any coupon date
An investor bought a 15-year bond with par value of 100000 and 8% semiannual coupons. The bond is callable at par on any coupon date beginning with the 24th coupon. Find the highest price paid that will yield a rate not less than ;(2) = 10%. An investor bought a 15-year bond with par value of 100000 and 8% semiannual coupons. The bond is callable at par on any coupon date beginning with the 24th coupon. Find the highest price paid that will yield a rate not less than ;(2) = 10%
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