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Determine the purchase price at the indicated time before maturity of the following bond redeemed...

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Question

Finance

Determine the purchase price at the indicated time before maturity of the following bond redeemed at par shown in the table below.

Par Value

Bond Rate Payable Semi-Annually

Time Before Redemption

Yield Rate

Conversion Period

$49,000

8%

12

years

9%

monthly

The purchase price of the bond is $ _.

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