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A $8,500 bond that carries a 3.50% coupon rate payable semi-annually is purchased 8 years before maturity when the yield rate was 5.00% compounded semi-annually.

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A $8,500 bond that carries a 3.50% coupon rate payable semi-annually is purchased 8 years before maturity when the yield rate was 5.00% compounded semi-annually. a. Calculate the purchase price of the bond. $ Round to the nearest cent b. What is the amount of discount or premium on the bond? (click to select) amount is Round to the nearest cent 1

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