The Florida Investment Fund buys 52 bonds of the Gator Corporation through a broker. The...
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Finance
The Florida Investment Fund buys 52 bonds of the Gator Corporation through a broker. The bonds pay 7 percent annual interest. The yield to maturity (market rate of interest) is 12 percent. The bonds have a 10-year maturity. Use Appendix B and for an approximate answer but calculate your final answer using the formula and flnancial calculator methods. Using an assumption of semiannual interest payments: a. Compute the price of a bond. Note: Do not round intermediate calculations and round your answer to 2 decimal places. b. Compute the total value of the 52 bonds. Note: Do not round intermediate calculations and round your answer to 2 decimal places
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