Question: Problem 16-6 Bond value [LO 16-2) 47 5 Gints The Florida Investment Fund buys 66 bonds of the Gator Corporation through a broker. The bonds

Problem 16-6 Bond value [LO 16-2) 47 5 Gints The Florida Investment Fund buys 66 bonds of the Gator Corporation through a broker. The bonds pay 12 percent annual interest. The yield to maturity (market rate of interest) is 16 percent. The bonds have a 10-year maturity. Use Appendix B and Appendix D for an approximate answer but calculate your final answer using the formula and financial calculator methods. Using an assumption of semiannual interest payments: a. Compute the price of a bond. (Do not round intermediate calculations and round your answer to 2 decimal places.) ebook Price of the bond Print References b. Compute the total value of the 66 bonds (Do not round intermediate calculations and round your answer to 2 decimal places.) Total value

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