A $25,000,67% bond redeemable at par es purchased 9 years before matunity to yield 5,3% compounded sems-areually the bond anderest is payable semi-analy, what is the purchase price of the bond? The purchase price of the bonds $27479 60 lound the final amwer to the nearest cont as needed Round all intermediate values to six decimal places as needed)
A $25,000,67% bond redeemable at par es purchased 9 years before matunity to yield 5,3% compounded sems-areually the bond anderest is payable semi-analy, what is the purchase price of the bond? The purchase price of the bonds $27479 60 lound the final amwer to the nearest cont as needed Round all intermediate values to six decimal places as needed)
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
Problem 1PS
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T1.
Transcribed Image Text:A $25,000,67% bond redeemable at par is purchased 9 years before matunity to yield 5 3% compounded sems-annually if the bond interest is payable semi-annually, what is the purchase price of the bond?
CHE
The purchase price of the bond is $27479 00
(Round the final amwer to the nearest cent as needed Round all intermediate values to six decimal places as needed)
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