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Please explain step by step on how to get the number in three brackets following: (Value of contract = $1 973 137.05); (Value of contract
Please explain step by step on how to get the number in three brackets following: (Value of contract = $1 973 137.05); (Value of contract = $1 959 871.24); (Price = $1 955 122.29)
The book mentioned that I need to use the bond pricing formula in the photo below
\\[ P=C\\left[\\frac{1-(1+i)^{-n}}{i}\ ight]+A(1+i)^{-n} \\] where: \\( i= \\) the nominal interest rate per period expressed \\( n= \\) the number of coupon periods \\( C= \\) periodic coupon payments \\( A= \\) the face value of the bondStep by Step Solution
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