Question: A $ 1 7 , 0 0 0 , 6 . 1 % bond redeemable at par is purchased 8 . 5 years before maturity

A $17,000,6.1% bond redeemable at par is purchased 8.5 years before maturity to yield 6.3% compounded semi-annually. If the bond interest is payable semi-annually, what is the purchase price of the bond?

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