Question: Sue purchased a 1 0 - year par value bond with semiannual coupons at a nominal annual rate of 2 % convertible semiannually at a

Sue purchased a 10-year par value bond with semiannual coupons at a nominal annual rate of 2% convertible semiannually at a price of $1028.73. The
bond can be called at par value x on any coupon date starting at the end of year 5. The price guarantees that Sue will receive a nominal annual rate of
interest convertible semiannually of a least 6%. Calculate x.
Par value of bond, x=$
 Sue purchased a 10-year par value bond with semiannual coupons at

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