Question: Answer: 1200.07 Problem 47.10 Sue purchased a 10-year par value bond with semiannual coupons at a nom- inal annual rate of 4% convertible semiannually at

Answer: 1200.07 Problem 47.10 Sue purchased a 10-year par value bond with Answer: 1200.07

Problem 47.10 Sue purchased a 10-year par value bond with semiannual coupons at a nom- inal annual rate of 4% convertible semiannually at a price of 1021.50. The bond can be called at par value X on any coupon date starting at the end of year 5. The price guarantees that Sue will receive a nominal annual rate of interest convertible semiannually of at least 6%. Calculate X

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