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calculation required 3. A $130,000 bond bearing interest at 6.5% payable semi-annually is bought seven years before maturity to yield 7.25% compounded annually. If the
calculation required
3. A $130,000 bond bearing interest at 6.5% payable semi-annually is bought seven years before maturity to yield 7.25% compounded annually. If the bond is redeemable at par, what is the purchase price? The purchase price of the bond is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)Step by Step Solution
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