A $45,000 bond with a coupon rate of 7.00%, payable semi-annually, is redeemable in 9.5...
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Finance
A $45,000 bond with a coupon rate of 7.00%, payable semi-annually, is redeemable in 9.5 years. What was the purchase price of the bond, when the yield rate was 6.00% compounded semi-annually?
Round to the nearest cent
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