Question: A$ 2 2 , 0 0 0 9 . 4 % bond redeemable at par is purchased 6 years before maturity to yield 7 .

A$22,0009.4% bond redeemable at par is purchased 6 years before maturity to yield 7.6% compounded
semi-annually. If the bond interest is payable semi-annually whatis the purchase price of the bond?

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