Find the Gain or Loss on the Sale Without Constructing

Find the gain or loss on the sale without constructing a bond schedule for six $5000, 9.5% bonds with interest payable semi-annually redeemable at par bought twenty-one years before maturity to yield 10.5% compounded semi-annually. The bonds were sold three years later at 103.625.

Correct Answer:

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FV = 6(5000) = $30 000; P/Y = ...

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