Determine the purchase price at the indicated time before maturity of the following bond redeemed at par shown in the table below. Par Value Bond Rate Payable Semi - Annually Time Before Maturity Yield Rate Conversion Period $7 comma 000 6.5% 8.5 years 7.25% semi dash annually Question content area bottom Part 1 The purchase price of the bond is $ enter your response here. (Round the final answer to the nearest cent 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
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Determine the purchase price at the indicated time before maturity of the following bond redeemed at par shown in the table below.

Par Value

Bond Rate Payable Semi - Annually

Time Before Maturity

Yield Rate

Conversion Period

$7 comma 000

6.5%

8.5 years

7.25%

semi dash annually

Question content area bottom

Part 1

The purchase price of the bond is $

enter your response here.

(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

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