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Bonds in denominations of $10,000 redeemable at 101 are offered for sale. If the bonds can be redeemed in 14 years and six months and
Bonds in denominations of $10,000 redeemable at 101 are offered for sale. If the bonds can be redeemed in 14 years and six months and the coupon rate is 10.5% payable quarterly, what is the market price of the bonds to yield 12% compounded semi-annually?
Select one:
a. $9,905.26
b. $9,305.62
c. None of these answers
d. $9,903.62
e. $9,104.62
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