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A $25,000, 67% bond redeemable al par is purchased 9 years before matunity to yield 5.3% compounded sem-annually the bond interest is payable sems annually, what is the purchase price of the bond? The purchase price of the bond is $33060 13 (Round the final answer to the nearest cent as needed Round all intermediate values to six decimal places as needed)

A $25,000, 67% bond redeemable al par is purchased 9 years before matunity to yield 5.3% compounded sem-annually the bond interest is payable sems annually, what is the purchase price of the bond? The purchase price of the bond is $33060 13 (Round the final answer to the nearest cent as needed Round all intermediate values to six decimal places as needed)

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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A $25,000, 67% bond redeemable at par is purchased 9 years before matunity to yield 5 3% compounded sem-annually if the bond interest is payable semi-annually, what is the purchase pece of the bond? The purchase price of the bond is $33060 13 (Round the final answer to the nearest cent as needed Round all intermediate values to six decimal places as needed.)
Transcribed Image Text:A $25,000, 67% bond redeemable at par is purchased 9 years before matunity to yield 5 3% compounded sem-annually if the bond interest is payable semi-annually, what is the purchase pece of the bond? The purchase price of the bond is $33060 13 (Round the final answer to the nearest cent as needed Round all intermediate values to six decimal places as needed.)
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