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Please explain how you got the answer. A $17,000. 8.4% bond redeemable at par is purchased 7.5 years before maturity to yield 9.2% compounded semi-annually.

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A $17,000. 8.4% bond redeemable at par is purchased 7.5 years before maturity to yield 9.2% compounded semi-annually. If the bond interest is payable semi-annually, what is the purchase price of the bond? The purchase price of the bond is $ . (Round the nal answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

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