Question: DO not round numbers during intermediate steps and for the final answer. Thank you. (1 point) A government issues $6000000 of serial bonds paying interest

DO not round numbers during intermediate steps and for the final

DO not round numbers during intermediate steps and for the final answer. Thank you.

(1 point) A government issues $6000000 of serial bonds paying interest at j1 = 4%, of which $2000000 is redeemed in 20 years, $3000000 is redeemed in 25 years and $1000000 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 j1 = 11%. Answer: S

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