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Question 3 (8 points) A $100 000 bond bearing interest at 6.75% payable semi-annually is bought eight years before maturity to yield 7.35% compounded annually.

Question 3 (8 points) A $100 000 bond bearing interest at 6.75% payable semi-annually is bought eight years before maturity to yield 7.35% compounded annually. If the bond is redeemable at par, what is the purchase price

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