A $7,000, 10% bond redeemable at par with semi-annual coupons bought nine years before maturity to yield

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A $7,000, 10% bond redeemable at par with semi-annual coupons bought nine years before maturity to yield 9% compounded semi-annually is sold four years before maturity at 93.625.

Find the gain or loss on the sale of the bond.

Related Book For answer-question

Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0134141084

11th edition

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

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Posted Date: Apr 30, 2019 09:02 AM

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A $7,000, 10% bond redeemable at par with semi-annual coupons bought nine years before maturity to yield

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Contemporary Business Mathematics with Canadian Applications

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