The Florida Investment Fund buys 54 bonds of the Gator Corporation through a broker. The...
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The Florida Investment Fund buys 54 bonds of the Gator Corporation through a broker. The bonds pay 8 percent annual interest. The ield to maturity (market rate of interest) is 10 percent. The bonds have a 15-year maturity. Use Appendix B and for an ipproximate answer but calculate your final answer using the formula and financial calculator methods. Jsing an assumption of semiannual interest payments: 1. Compute the price of a bond. (Do not round intermediate calculations and round your answer to 2 decimal places.)
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