9. A $20,000, 10% bond with semi-annual coupons redeemable at par March 1, 2021, was purchased on November 15, 2014, to yield 9% compounded semi-annually. What was the purchase price of the bond?

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
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Chapter6: Fixed-income Securities: Characteristics And Valuation
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9. A $20,000, 10% bond with semi-annual coupons redeemable at
par March 1, 2021, was purchased on November 15, 2014,
to yield 9% compounded semi-annually. What was the
purchase price of the bond?
please use TI BAII calculator
Transcribed Image Text:9. A $20,000, 10% bond with semi-annual coupons redeemable at par March 1, 2021, was purchased on November 15, 2014, to yield 9% compounded semi-annually. What was the purchase price of the bond? please use TI BAII calculator
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