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A $1000 bond redeemable at $1050 on December 1, 2016, pays interest at j2 =...

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Accounting

A $1000 bond redeemable at $1050 on December 1, 2016, pays interest at j2 = 6.5%. The bond is bought on June 1, 2014 to yield j2 = 5.5% to maturity.

(a) Determine the purchase price of the bond.

(b) Construct the complete bond schedule.

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