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eather purchased a $10,000 bond that had 4% coupons and ten years to maturity. If the yield rate at the time of purchase was 5%

eather purchased a $10,000 bond that had 4% coupons and ten years to maturity. If the yield rate at the time of purchase was 5% compounded monthly, calculate the purchase price of the bond and the discount or premium at the time of purchase show all work please. We use the formulas PMT= FVxb

b=j/m

PV=FV(1+i)^-n

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