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Show all work and steps (not excel) 6) ( 18 points) A $10,000,10-year corporate bond is offered at a premium for $11,250. The bond rate

Show all work and steps (not excel)

6) ( 18 points) A $10,000,10-year corporate bond is offered at a premium for $11,250. The bond rate is 4% per year compounded quarterly. If Alex wishes to earn 3% per year compounded quarterly on the bond investment, should he purchase the bond assuming he keeps the bond till it matures and then redeems it at face value? Explain. Show all work

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