capital financing

topic: engineering economy

complete solutuin

ACTIVITY 13-1 Mr. Romualdo bought a bond having a face value of 1,000 for 970 Php. The bond rate was 14% nominal and interest payments were made to him semiannually for a total of 7 years. At the end of the seventh year he sold the bond to a friend at a price that resulted a yield of 16% nominal on his investment. What was the selling price