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Joshua purchased a $3,000 bond that was paying a coupon rate of 5.20% compounded semi-annually and had 6 more years to mature. The yield at

Joshua purchased a $3,000 bond that was paying a coupon rate of 5.20% compounded semi-annually and had 6 more years to mature. The yield at the time of purchase was 6.70% compounded semi-annually.

a. How much did Joshua pay for the bond?

Round to the nearest cent

b. What was the amount of premium or discount on the bond?

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