Question: Save A $24,000, 7% bond redeemable at par with interest payable annually is bought 10 years before maturity. Determine the premium or discount and

Save A $24,000, 7% bond redeemable at par with interest payable annually

Save A $24,000, 7% bond redeemable at par with interest payable annually is bought 10 years before maturity. Determine the premium or discount and the purchase price of the bond if the bond is purchased to yield (a) 9% compounded annually, (b) 5% compounded annually. (a) The 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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