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Penny bought a Treasury bond with a coupon rate of j2=2.53% p.a. and face value of $100. The bond will mature on 15 October 2028.

Penny bought a Treasury bond with a coupon rate of j2=2.53% p.a. and face value of $100. The bond will mature on 15 October 2028. Penny purchased this bond on 15 January 2020. (b) What was Penny's purchase price (rounded to five decimal places)? Assume a yield of 5.37% p.a., compounded half-yearly. a. 80.13589 b. 79.76309 c. 81.01154 d. 81.00567

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