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Vincent purchased a $ 3 , 5 0 0 bond that was paying a 5 . 5 0 % coupon rate and had 4 more
Vincent purchased a $ bond that was paying a coupon rate and had more years to mature. The yield at the time of purchase was compounded semiannually.
a How much did Vincent pay for the bond?
Round to the nearest cent
b What was the amount of premium or discount on the bond?
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