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Penny bought a Treasury bond with a coupon rate of ja=2.95% p.a. and face value of $100. The bond will mature on 15 October 2028.

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Penny bought a Treasury bond with a coupon rate of ja=2.95% p.a. and face value of $100. The bond will mature on 15 October 2028. Penny purchased this bond on 19 January 2020. (b) What was Penny's purchase price (rounded to five decimal places)? Assume a yield of 4.55% p.a., compounded half-yearly. a. 89.33419 b. 87.88013 O c. 89.33944 O d. 88.80627

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