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Justin purchased a $3,000 bond that was paying a 4.90% coupon rate and had 5 more years to mature. The yield at the time of

Justin purchased a $3,000 bond that was paying a 4.90% coupon rate and had 5 more years to mature. The yield at the time of purchase was 5.90% compounded semi-annually. a. How much did Justin 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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