A $1000, 9.5% bond with semi-annual coupons redeemable at par on March 1, 2026, was purchased on

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A $1000, 9.5% bond with semi-annual coupons redeemable at par on March 1, 2026, was purchased on September 19, 2017, to yield 7% compounded semi-annually. What was the purchase price?

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Contemporary Business Mathematics With Canadian Applications

ISBN: 9780135285015

12th Edition

Authors: Ali R. Hassanlou, S. A. Hummelbrunner, Kelly Halliday

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Question Posted: Oct 27, 2020 07:09 AM

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A $1000, 9.5% bond with semi-annual coupons redeemable at par on March 1, 2026, was purchased on

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Contemporary Business Mathematics With Canadian Applications

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