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You MUST use the TI BA II calculator features ( N , I / Y , PV , PMT , FV , AMORT ) to

You MUST use the TI BA II calculator features

(

,

/

,

,

PMT

,

,

AMORT

)

to solve questions whenever possible. A $

25, 000, 7 %

bond is purchased

12

years before maturity to yield

5 %

compounded semiannually. If the bond interest is payable semiannually, what is the purchase price of the bond?

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