Question: 4 ) A $ 1 6 0 , 0 0 0 , 1 2 . 4 6 % bond redeemable at par is purchased 5

4) A $160,000,12.46% bond redeemable at par is purchased 5.0 years before maturity to yield 12.09% compounded monthly. If the bond interest is payable monthly what is the purchase price of bond ? Was the bond sold at a discount price or a premium? How much was the discount or premium?

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