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Mr. Yap bought a bond having a face value of Php 1,000.00 for Php 970.00. The bond rate was 14%

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Mr. Yap bought a bond having a face value of Php 1,000.00 for Php 970.00. The bond rate was 14% nominal and dividends were made to him semiannually for a total of 7 years. At the end of the seventh year, he sold the bond to a friend at a price that resulted a yield of 16% nominal on his investment. 



What was the selling price?

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Answer rating: 100% (QA)

SOLUTION To find the selling price of the bond we need to use the formula for the present value of a View the full answer


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Related Book For  answer-question
Income Tax Fundamentals 2013

Income Tax Fundamentals 2013

ISBN: 9781285586618

31st Edition

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

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Posted Date: May 06, 2023 04:03:33
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