Denis purchased a $10,000 face value Ontario Hydro Energy bond maturing in seven years. The coupon...
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Denis purchased a $10,000 face value Ontario Hydro Energy bond maturing in seven years. The coupon rate was 7.1% payable semiannually. If the prevailing market rate at the time of purchase was 6.4% compounded semiannually, what price did Denis pay for the bond? (Do not round the intermediate calculations. Round your final answer to 2 decimal places.) Assume that: Bond interest is paid semiannually. . The bond was originally issued at its face value. Bonds are redeemed at their face value at maturity. Market rates of return are compounded semiannually. Bond price $ I Denis purchased a $10,000 face value Ontario Hydro Energy bond maturing in seven years. The coupon rate was 7.1% payable semiannually. If the prevailing market rate at the time of purchase was 6.4% compounded semiannually, what price did Denis pay for the bond? (Do not round the intermediate calculations. Round your final answer to 2 decimal places.) Assume that: Bond interest is paid semiannually. . The bond was originally issued at its face value. Bonds are redeemed at their face value at maturity. Market rates of return are compounded semiannually. Bond price $ I
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