Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. a $3000, 7.5% bond (payable semi-annually) is rede

A $3000, 7.5% bond (payable semi-annually) is redeemable at par in 2 years and 6...

50.1K

Verified Solution

Question

Finance

A $3000, 7.5% bond (payable semi-annually) is redeemable at par in 2 years and 6 months. If the bond is purchased to yield 8.1% compounded semi-annually, determine the purchase price of the bond.

$2959.99

$2952.90

$2946.08

$2967.37

$2975.05

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Finance
1.2K views

You must evaluate a proposal to buy a new milling machine. The base price is $188,000,...

Basic Math
1.2K views

3. State thoroughly and precisely Euclids fifth postulate. According to Playfair, \"Given a line l and a...

Chemistry
1.2K views

8. The two methods of determining pH values (pH indicator versus pH meter) should show similar pH...

Biology
1.2K views

A drug is any type of that has an effect on the body. A. bacteria...

Geometry
1.2K views

In the rectangle below AE 4x 8 BE 5x 5 and m2 EBA 63 Find...

Statistics
1.2K views

The body temperatures of a group of healthy adults have a bell shaped distribution with...

Calculus
1.2K views

Graph the function by using the slop 6 f x x 2

Accounting
1.2K views

On the first day of the fiscal year, a company issues a...

Accounting
1.2K views

none of that makes since to me at all

Accounting
1.2K views

Some of the transactions of Bramble Company during August are listed below. Bramble uses the...

Accounting
1.2K views

If bonds are issued at a premium and the effective-interest method of amortization is used,...

Finance
1.2K views

The YTM on a bond is the interest rate you earn on your investment if...