A $5,000,000 issue of a 30-year bond,redeemable at par, offers 8.00% coupons payable semi annually....
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Accounting
A $5,000,000 issue of a 30-year bond,redeemable at par, offers 8.00% coupons payable semi annually. The bond yields 5.00% monthly compounding monthly.
a. What was the purchase price of the bond, if it was purchased 20 years before maturity?
b. What was the amount of discount or premium on the bond?
Please provide solution using financial calculator
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