What is the net or cash price on may 13 of bond with a face value of
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Question:
What is the net or cash price on may 13 of bond with a face value of $150 , which is redeemed on December 5 of the following year and pays interest of 9.4% per year in bimonthly coupons due on the fifth day of the following month? pairs of the year? Assume yield of 13.2% per year, capitalizable per two month period and that are redeemed:
a. They are redeemed at the same time.
b. They are redeemed at 120.
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