A 25-year bond issue of $5000 000 and bearing interest at 4.25% payable annually is sold to

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A 25-year bond issue of $5000 000 and bearing interest at 4.25% payable annually is sold to yield 4.5% compounded semi-annually. What is the issue price of the bonds?

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Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

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

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Question Posted: Feb 26, 2016 04:13 AM

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A 25-year bond issue of $5000 000 and bearing interest at 4.25% payable annually is sold to

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FV 5 000 00000 PMT 5 000 0000000425 212 50000 i 225 n 25 c 2 p ...View the full answer

Contemporary Business Mathematics with Canadian Applications

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