Essay
A $1000 bond, with interest at 8% payable semi-annually on January 1 and July 1, was purchased on February 8, 2012. The bond matures on July 1, 2015 and yields 2.2% compounded semi-annually. What is the purchase payment for the bond?
Correct Answer:
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= $40
= 1.1%
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Correct Answer:
Verified
= $40 = 1.1%Purchase price of the ...
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