Question: I really need help with this question can someone please tell me if this is the right answer. And if not can you please show
I really need help with this question can someone please tell me if this is the right answer. And if not can you please show me how to find the right answer step by step. Please and Thank you. Please help, I don't know if I am doing this right or wrong.
A 20-year bond issue of 4,000,000 and bearing interest at 4.5% payable annually is sold to yield 4.8% compounded semi-annually. What is the issue price of the bonds?
The purchase price of the bond is $ 26,594,293.5398
(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
