Question: I really need help with this question can someone please tell me how to do this question I don't know how. And can you please
I really need help with this question can someone please tell me how to do this question I don't know how. And can you please show me how to find the right answer step by step? Please and Thank you. Please help.
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 ____
(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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