Question: A $ 2 5 , 0 0 0 bond redeemable at par on May 2 1 , 2 0 1 8 is purchased on September

A $25,000 bond redeemable at par on May 21,2018 is purchased on September 16,2007. Interest is 6.4%
payable semi-annually and the yield is 9.6% compounded semi-annually.
(a) What is the cash price of the bond?
(b) What is the accrued interest?
(c) What is the quoted price?

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