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show with work pls Determine the purchase price at the indicated time before maturity of the following bond redeemed at par shown in the table
show with work pls
Determine the purchase price at the indicated time before maturity of the following bond redeemed at par shown in the table below. Par Value $25,000 Bond Rate Payable Semi-Annually 6.5% Time Before Redemption 11.5 years Yield Rate 7% Conversion Period annually The purchase price of the bond is $0 (Round the final answer to the nearest cent as needed. Rounball intermediate values to six decimal places as needed.)Step by Step Solution
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