Mona is considering investing in a Sun Life Financial Inc. corporate bond with a $25 000 face

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Mona is considering investing in a Sun Life Financial Inc. corporate bond with a $25 000 face value maturing on December 22, 2032. The bond’s coupon or bond rate is 6.25 percent and interest is paid semi-annually. The current required market rate or yield for a bond of this type is 5.42 percent. Use the bond function of the Texas Instrument BA II PLUS calculator to determine the purchase price of the bond on June 22, 2026.

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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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