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(b) Mr. Koh purchases a RM1,000 par value 10-year bond with coupons at 8% convertible semiannually which will be redeemed for x. The present value
(b) Mr. Koh purchases a RM1,000 par value 10-year bond with coupons at 8% convertible semiannually which will be redeemed for x. The present value of the redemption value is RM301.51. Calculate x if the purchase price is RM800. (6 marks)
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