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Hey can you help me with 1a and 1b plz? 1a) 1b) A $100,000 bond bearing interest at 6.5% payable annually is bought eight years
Hey can you help me with 1a and 1b plz?
1a)
1b)
A $100,000 bond bearing interest at 6.5% payable annually is bought eight years before maturity to yield 6.9% compounded quarterly. If the bond is redeemable at par, what is the purchase price? The purchase price of the bond is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) A 25-year bond issue of 5,300,000 and bearing interest at 5% payable annually is sold to yield 5.15% compounded quarterly. What is the issue price of the bonds? The purchase price of the bond is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)Step by Step Solution
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