Question: A $ 1 2 0 0 0 0 bond bearing interest at 5 . 5 % payable semi - annually is bought ten years before

A $120000 bond bearing interest at 5.5% payable semi-annually is bought ten years before maturity to yield 5.1% compounded annually. If the bond is redeemable at par, what is the purchase price?h annually ,what is the size of the monthly payment for the renewal term? (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

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