Question: Assignment 12: Problem 5 Previous Problem Problem List Next Problem (1 point) A government issues $4000000 of serial bonds paying interest at j2 = 10%,

Assignment 12: Problem 5 Previous Problem Problem List Next Problem (1 point) A government issues $4000000 of serial bonds paying interest at j2 = 10%, of which $1000000 is redeemed in 20 years, $1000000 is redeemed in 30 years and $2000000 is redeemed in 35 years. Determine the purchase price on the day that the bonds were issued in order for investors to receive a yield of j2 - 4% Answer: $

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