Question
A bond, bought at a price of 7961.123, redeemed at par, with face amount 10000 and coupons payable semiannually at a nominal annual interest
A bond, bought at a price of 7961.123, redeemed at par, with face amount 10000 and coupons payable semiannually at a nominal annual interest rate of r compounded semiannually was issued on April 10, 2011. The first coupon was paid on October 10, 2011 and the bond has a maturity date of April 10, 2027. The bond yield rate is a nominal annual interest rate of j com- pounded semiannually. It is known that j-1.5r and the amount for accumulation of discount in the 15th coupon payment is 58.7394. Find the interest paid in the 28th coupon and the price-plus-accrued on November 15, 2020.
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Contemporary Business Mathematics with Canadian Applications
Authors: S. A. Hummelbrunner, Kelly Halliday, Ali R. Hassanlou, K. Suzanne Coombs
11th edition
134141083, 978-0134141084
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