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Please answer the following question and show all steps/work. Thanks! If a $100,000, 8%, 10 year semi-annual bond is sold to yield 9%. Assuming no
Please answer the following question and show all steps/work. Thanks!
If a $100,000, 8%, 10 year semi-annual bond is sold to yield 9%. Assuming no transaction costs the cash proceeds will be:
a. less than the face value
b. equal to face value
c. greater than the face value
d. more than $180,000
e. exactly $109,000
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