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Correct Answer required within 30 minutes Six $1,000,5% bonds redeemable at 106 with semi-annual...

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Finance

imageCorrect Answer required within 30 minutes

Six $1,000,5% bonds redeemable at 106 with semi-annual coupons bought twelve years before maturity to yield 8% compounded semi-annually are sold three years before maturity at 93.625. Find the gain or loss on the sale of the bonds. The (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

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