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Sue purchased a 1 0 - year par value bond with semiannual coupons at a nominal annual rate of 2 % convertible semiannually at a
Sue purchased a year par value bond with semiannual coupons at a nominal annual rate of convertible semiannually at a price of $ The
bond can be called at par value on any coupon date starting at the end of year The price guarantees that Sue will receive a nominal annual rate of
interest convertible semiannually of a least Calculate
Par value of bond, $
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