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Shannon purchased a $4,500 bond that was paying a coupon rate of 6.70% compounded semi-annually and had 4 more years to mature. The yield at

Shannon purchased a $4,500 bond that was paying a coupon rate of 6.70% compounded semi-annually and had 4 more years to mature. The yield at the time of purchase was 5.30% compounded semi-annually.

a. How much did Shannon pay for the bond?

What was the amount of premium or discount on the bond?

Premium or Discount? and amount was _

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