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Determine the purchase price at the indicated time before maturity of the following bond redeemed at par shown in the table below. Par Value Bond
Determine the purchase price at the indicated time before maturity of the following
bond redeemed at par shown in the table below.
| Par Value | Bond Rate Payable Semi-Annually | Time Before Redemption | Yield Rate | Conversion Period |
| $42,000 | 10.5% | 11 years | 9.75% | annually |
The purchase price of the bond is
$nothing.
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